Wilma may cost insurers $6.1b
US property-casualty insurers will probably pay about $6.1 billion in claims from Hurricane Wilma, according to a survey of insurers. The estimate by Property Claim Services, a unit of Insurance Services Office Inc., compares to earlier projections of as much as $12 billion by Risk Management Solutions Inc., which uses computer models. Property Claim will re-survey insurers in 60 days, the Jersey City, New Jersey-based company said in a statement yesterday.
Wilma, which came ashore on Florida?s southwestern coast on October 24, pushes the industry?s losses from natural catastrophes to a record $50.3 billion so far this year, said Property Claim. Hurricanes Katrina, Rita and Wilma alone contributed about 90 percent. Risk Management, a storm modeller, predicted $8 billion to $12 billion in Wilma claims on October 27. AIR Worldwide Corp.,another modeller owned by Insurance Services, estimated $6 billion to $10 billion.
Eqecat Inc., a third, predicted $4 billion to $8 billion