Insured losses from Ivan could hit $7 billion
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MIAMI - Insured losses in the United States from Hurricane Ivanâs assault on the Gulf Coast could run from $2 billion to $7 billion, a risk assessment company said Thursday as it slightly reduced its estimate of the cost of the deadly storm.
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Rescuers were anxious to discover the fate of 30,000 people unaccounted for in Andaman and Nicobar islands on Tuesday as the nationwide death toll from weekend tidal waves reached nearly 7,000.
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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&#39;s Hurricane Andrew, an insurance industry group said on Friday.
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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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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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Allstate Corp. and Citizens Property Insurance Corp., which reported the biggest losses from last month&#39;s Hurricane Charley, may face the largest claims from Hurricane Frances
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PENSACOLA, Fla.  - Hurricane Ivan slammed into the  U.S. Gulf coast on Thursday with furious winds and flooding,  ripping roofs off homes and hotels, washing out bridges,  downing power lines and spawning tornadoes that killed seven  people.
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Hurricane Jeanne, which roared across  Florida on Sunday, may have caused $4 billion to $8 billion in  insured damage, a risk management group said.
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St. Paul Travelers Cos. Inc. expects its net losses from Hurricane Jeanne will be about $93 million, after tax and reinsurance payments.
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As residents in Gulf Coast area of the United States brace for the impact of Hurricane Ivan, one local family learned earlier this week the damage the most disastrous storm to hit in nearly 40 years can bring.
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Hurricane Ivan may cost insurers less than first estimated after the third storm to hit the United States in six weeks skirted New Orleans.
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Insurers are braced to pay out at  least $5 billion in claims for devastation caused by Hurricane  Charley, making the storm the second most costly after  Hurricane Andrew, industry and government officials said on  Monday.
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As hurricane Ivan roared northwards yesterday through the Gulf of Mexico towards landfall in the US as early as this evening, Wall Street analysts warned that the damage could extend beyond buildings into the wider economy.
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Three weeks of crippling snow storms across China have inflicted $7.5 billion in damages, the government said Friday, as it announced a $700 million relief fund for farmers
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XL Capital Ltd. and PartnerRe Ltd., companies that help insurers spread risk, said their businesses may benefit from Hurricane Ivan, the third storm in a month that threatens Florida with billions of dollars in damage.
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including hurricanes Charley, Frances, Ivan, and Jeanne -- contributed to $21.3 billion in insured property loss claims, says actuarial firm ISO.
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"The relatively low losses can be explained by the tracks of the hurricanes _ no major hurricanes reaching the US mainland, as in 2006"  Losses to insurers from natural disasters nearly doubled this year to just below $30 billion globally after an unusually quiet 2006, a leading reinsurer said Thursday, from winter storms in Europe, flooding in Britain and wildfires in the U.S.Munich Re warned that climate change could mean a growing number of weather-related catastrophes in coming years.'The trend in respect of weather extremes shows that climate change is already taking effect and that more such extremes are to be expected in the future,' board member Torsten Jeworrek said in a statement. 'We should not be misled by the absence of megacatastrophes in 2007.' Read more