This year's third quarter, costing an estimated $40.8bn in insured property losses, was the costliest quarter ever, according to a preliminary estimate released by the Insurance Services Office Property Claim Services unit.
PCS said the first nine months of 2005 brought $43.8bn in insured property losses. Hurricane Wilma is expected to add another $4.7bn in insured property damage, PCS has estimated.
Hurricane Katrina was the costliest catastrophe during the third quarter, and year, hitting the industry with an estimated $34.4bn in insured property damage.
PCS reported that Louisiana sustained the largest amount of insured property damage, with $25bn in insured losses, followed by Mississippi at $9.9bn and Texas at $2.2bn
