Six catastrophes in 11 states during the quarter generated 260,000 claims, estimates PCS. Sixty-two percent of the $1.13 billion in property losses affected personal lines, 20% affected commercial lines and 18% involved vehicle losses, PCS said.
This year’s third-quarter results of property loss payouts are down from last year’s third-quarter total of $1.25 billion.
For the first nine months of the year, PCS reported that catastrophes caused approximately $4.7 billion in insured property damage from 997,000 claims nationwide.
Additionally, PCS published its final estimate for Hurricane Katrina, which struck the Gulf Coast in 2005. PCS said Katrina caused approximately $41.1 billion in losses related to nearly 1.75 million reported claims.