U.S. Insurers Report Steep Losses From Natural Disasters

(WIBX) - The Nation's property and casualty insurance companies are reporting the steepest 6 months of disaster-related losses in more than a decade.

A combined total of nearly $24 billion worth of claims were filed within the first half of 2011.

The CEO of Travelers says his company logged loss-claims higher than those incurred from Hurricane Katrina in 2005.

In August,  Allstate announced plans to raise their homeowner's insurance rates because its storm-related claims totaled more than $2.3 billion.