Insurers See Hurricane Costs as High as $23 Billion
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Insurance claims for damage caused in  the United States this year by four major hurricanes may reach  $23 billion, surpassing payments on claims for 1992's Hurricane  Andrew, an insurance industry group said on Friday.
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NEW YORK -- Hurricane Charley will likely cost insurers at least $7.4 billion, according to the Insurance Institute, an industry trade group that based its estimate on initial claims data from Florida residents and businesses.
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Thousands of Floridians will be getting insurance checks soon to help fix damage from Hurricanes Charley or Frances, but many will be surprised to learn how much of the repair bills they must pay themselves.
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Hurricane Frances, the most recent hurricane to hit Florida, likely will result in $2 billion to $10 billion in insured losses, according to credit rating agency Fitch Ratings.
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Insurers could face their biggest ever hurricane damages bill following a spate of storms in the Caribbean, an industry body says.
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Florida insurers, after weathering two hurricanes in the last month, are scrambling to compile damage assessments while bracing for another potential storm this weekend that could further erode profits.
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Estimates range from $3B to $10B following second major storm to hit Florida within a month. NEW YORK (CNN/Money) - Losses from Hurricane Frances are now forecast to make it the fifth-costliest storm in US
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Aug. 18 (Bloomberg) -- Hurricane Charley will probably cost insurers $7.4 billion, according to the first loss estimate based on insurance claims.
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MIAMI -- Four hurricanes in just six weeks are likely going to force Florida&#39;s top two insurers to raise rates or reduce their business in the state.
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Hurricane Jeanne has the potential to be the most expensive storm to hit the United States in a year of expensive storms. Risk Management Solutions
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Insurers are having their costliest year since 2001, when the September 11th terrorist attacks in the US led to $26.5 billion in catastrophe claims.
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Germany's Munich Re, the world's largest reinsurer, said Monday that the overall insured damage caused by Hurricane Frances so far is between &#36;5 billion and &#36;15 billion.
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The 2004 hurricane season is expected to be costly for insurers, with early estimates of $8bn (Â£4.5bn) of losses from just one of the storms that have hit the United States this year.
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Hurricane Ivan, which slammed into the US Gulf coast today, may cost insurers $4 billion to $10 billion, rivaling hurricanes Charley and Frances, Risk Management Solutions Inc.
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TALLAHASSEE, Fla.  - Hurricane Frances caused $2  billion to $4 billion in insured damages in Florida, according  to early estimates, a state official said on Tuesday.
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Natural disasters will cost insurers a record &#36;35 billion this year, after hurricanes lashed the Caribbean and southeastern United States and a record 10 typhoons soaked Japan in events seen as linked to global warming, climate experts said on Wednesday.
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US property and casualty insurers have paid out $21.3 billion for eight catastrophes damage, including hurricanes Charley, Frances, Ivan and Jeanne, according to the data of the Jersey-based Insurance Services Office Inc.