Hurricane Dennis Insured Losses Under a Billion, Estimates ISO's Property Claim Services Unit

JERSEY CITY, N.J., July 26, 2005 — Property/casualty insurers are expected to pay policyholders in four states $900 million on claims for insured property losses from Hurricane Dennis, according to estimates by ISO's Property Claim Services (PCS) unit.

Dennis caused much less damage than each of last year's "fab four" hurricanes but nearly matched this year's second-quarter catastrophe loss of $920 million.

Dennis made landfall as a Category 3 hurricane just west of Pensacola, Fla., and then moved further inland to Alabama, Georgia and Mississippi.

Florida suffered $640 million in losses to residential and commercial property and auto, followed by Alabama ($115 million), Georgia ($85 million) and Mississippi ($60 million).

PCS estimates the event will generate slightly more than 126,000 claims from homeowners and businesses.

ISO's PCS unit defines a catastrophe as an event that causes $25 million or more in insured property losses and affects a significant number of property/casualty policyholders and insurers.

PCS estimates represent anticipated insured loss on an industrywide basis arising from catastrophes, reflecting the total insurance payment for personal and commercial property lines of insurance covering fixed property, personal property, vehicles, boats, related property items, business interruption and additional living expenses. The estimates exclude loss adjustment expenses.

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ISO is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government and human resources. Professionals use ISO's databases and services to classify and evaluate a variety of risks and detect potential fraud. In the U.S. and around the world, ISO's services help customers protect people, property and financial assets.

Release: Immediate

Contacts:
Giuseppe Barone / Erica Helton
MWW Group (for ISO)
201-507-9500
gbarone@mww.com / ehelton@mww.com

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