Catastrophe claims and losses Q1 2013

July 1, 2013 / 1 min read

Q1 2013 had the smallest number of first-quarter cats since 2002 and the lowest losses since 2007.

Here are first-quarter 2013 catastrophe claims and losses as reported by Verisk’s Property Claim Services^® (PCS^®). With four declared catastrophes and estimated losses totaling about $1.6 billion, the first quarter of 2013 had the fewest first-quarter declared catastrophes since 2002 and the lowest first-quarter catastrophe losses since 2007. Is that a good omen for 2013?

That’s tough to say, as Colorado State University predicts an active hurricane season with 18 named storms, nine hurricanes, and four major hurricanes. AccuWeather forecasters are also predicting an active thunderstorm season. Don’t let the season’s slow start fool you. You should begin to prepare now to make sure you’re managing catastrophe risk most effectively.

Catastrophe claims and losses first quarter 2013 — Figures reflect estimates as of May 10, 2013. Final figures are subject to PCS resurveys.
The catastrophes reported reflect the PCS definition of a catastrophe as an event causing $25 million or more of insured property damage and affecting a significant number of policyholders and insurers.