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Flirting with disaster: 2006 may seem like a quiet year for catastrophes so far--there have been no Katrinas, Ritas or Wilmas--but natural catastrophes don't need a first name in order to wreak disaster.(catastrophe losses report)
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Best's Review
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November 1, 2006
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Copyright informationCOPYRIGHT 2006 A.M. Best Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Before the 2006 hurricane season began, catastrophe losses for the first half of 2006 had exceeded the first-half losses from both 2004 and 2005. However, with the hurricane season proving to be mild, as of early October, nine-months numbers for 2006 were merely a drop in the ocean compared with the losses from the past two years.
For the first six months of 2006, catastrophes caused about $5.27 billion in insured losses, 86% higher than the $3.07 billion in cat losses for the first half of 2005, according to the ISO Property Claim Services. At $5.27 billion, the first half of 2006 ranks fifth in first-half insured catastrophe losses over the past 10 years. The worst first ...
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