Figures

$60 billion

The record estimated income after taxes for the property casualty insurers in 2006, according to the Insurance Information Institute.

$8 billion

The estimate of insured catastrophe losses in 2006, down from $62 billion in 2005, according to the Insurance Information Institute.

14%

The return on equity delivered by property casualty insurers in 2006, the best in about 20 years, according to the Insurance Information Institute.

$2.5 million

The punitive damages awarded in a key Hurricane Katrina claims decision that surprised the insurance industry. U.S. District Court Judge L.T. Senter in Broussard v. State Farm ruled that State Farm did not provide sufficient evidence to prove what damage to a Mississippi family’s house was caused by wind versus water. Senter ordered State Farm to pay $223,000 in actual damages for the home and belongings of Biloxi couple Norman and Genevieve Broussard, before turning the case back to the jury to decide on the punitive damages.

$54 million

The lost value claim filed with Lloyd’s of London by Steve Wynn, Las Vegas casino magnate, who accidentally poked a hole in a Picasso painting he owns. Wynn filed a lawsuit in U.S. District Court in Manhattan, seeking to force Lloyd’s to expedite his claims for reimbursement and restoration costs for “Le Reve,” a 1932 painting depicting Picasso’s mistress, Marie-Therese Walter.

$50 million

The amount that State Farm, Mississippi’s largest home insurer, is considering paying to settle Katrina-related lawsuits and clams by others who have not yet sued. The Associated Press reported State Farm, Mississippi Attorney General Jim Hood and plaintiffs’ lawyers are nearing an agreement that calls for the insurer to pay at least $50 million — but possibly hundreds of millions more — to about 35,000 policyholders.