CAT LOSSES REACH 11-YEAR LOW

U.S. property/casualty insurers will pay homeowners and businesses $315 million for insured catastrophe losses—the lowest third-quarter amount in 11 years beginning 1990, estimates Insurance Services Office, Inc.’s Property Claim Services unit.

For the first nine months of the 11 years beginning 1990, this year ranks eighth in total losses, ninth in number of claims and last in number of catastrophes. The current quarter’s $315 million in losses from three catastrophic events compare with $2.1 billion in losses from seven events in third-quarter 1999.