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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)

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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