This year will go down as the second costliest in the U.S. in terms of insured losses from natural disasters, the Insurance Information Institute said Friday. And it will set the record for number of federal major disaster declarations: 99 issued throughout 2011, up from the previous record of 81 in 2010.
"Catastrophes striking the United States in the first nine months of 2011 caused $32.6 billion in direct insured losses, nearly double the $18.6 billion in catastrophe-caused direct insured losses insurers generally incur over the first nine months of any given year," III President Robert Hartwig
"The $32.6 billion figure doesn’t even include the significant insured losses which arose after the pre-Halloween snowstorm, which caused enormous damage to multiple states along the Atlantic seaboard," he added. "Coupled with other events in 2011’s fourth quarter, direct insured losses could exceed $35 billion this year."
Total losses, including those not insured, are likely far in excess of $75 billion, the institute said.
MSNBC
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