JERSEY CITY, NJ, June 10, 2002 — The U.S. hurricane season, which officially began June 1, peaks around August and September and lasts through November.
Hurricanes and tropical storms in the coming months will expose tens of millions of people living along coastal regions from Florida to New England and the Gulf Coast states from Florida to Texas to potentially devastating property losses.
The attached two-page fact sheet is compiled from information in Insurance Services Office, Inc.'s (ISO) Property Claim Services (PCS) database on property losses from both man-made and natural disasters in the U.S.
The fact sheet highlights some of the more significant information on past catastrophes, including hurricanes, and dollar value of property damage that would be useful as background for breaking news coverage of natural disasters. ISO spokespeople are also available to provide analyses of catastrophe losses.
In addition, ISO's newly acquired catastrophe- and weather-risk modeling subsidiary, AIR Worldwide Corporation, can assist you in your coverage of hurricanes and other catastrophes with prospective information on property losses. AIR's computer-simulation models can project property loss estimates from hurricanes as far ahead as 48 hours before landfall.
About ISO
ISO is a leading source of information, products and services related to property and liability risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides statistical, actuarial, underwriting and claims information and analysis; consulting and technical services; policy language; information about specific locations; fraud-identification tools; and data processing.
About AIR
AIR Worldwide Corporation (AIR) is a leading catastrophe- and weather-risk modeling firm. AIR provides real-time loss estimates as hurricanes and other natural perils are in progress. AIR spokespeople are available to comment as storms unfold. Contact Mike Gannon at (617) 954-1857; mgannon@air-worldwide.com.
INSURANCE SERVICES OFFICE, INC.
PROPERTY CLAIM SERVICES
CATASTROPHE FACT SHEET
Catastrophes by Year (1992—2002): Number of Catastrophes and Estimated Insured Loss (adjusted to 2001 dollars) ** |
|
2002 (Q1) | 3, $580 million |
2001 | 20, $27.8 billion |
2000 | 24, $ 4.7 billion |
1999 | 27, $ 8.9 billion |
1998 | 37, $10.9 billion |
1997 | 25, $ 2.9 billion |
1996 | 38, $ 8.3 billion |
1995 | 33, $ 9.7 billion |
1994 | 32, $20.2 billion |
1993 | 31, $ 6.8 billion |
1992 | 32, $28.9 billion |
** To insurers, a catastrophe is a single incident or series of related incidents — whether man-made or wind, hail, tornadoes, flooding, wildfires, earthquakes, and other natural disasters — that causes insured property losses totaling at least $25 million and affects a significant number of policyholders and insurers. |
Ten Costliest Catastrophes and Estimated Insured Loss (adjusted to 2001 dollars) |
|
Terrorist attack (New York, Virginia and Pennsylvania) — Sept. 2001 | $20.3 billion |
Hurricane Andrew – Aug. 1992 | $19.6 billion |
Northridge (Cal.) earthquake — Jan. 1994 | $14.9 billion |
Hurricane Hugo — Sept. 1989 | $ 5.9 billion |
Hurricane Georges — Sept. 1998 | $ 3.2 billion |
Hurricane Betsy — Sept. 1965 | $ 2.9 billion |
Tropical Storm Allison — July 2001 | $ 2.5 billion |
Hurricane Opal — Oct. 1995 | $ 2.4 billion |
Hurricane Floyd — Sept. 1999 | $ 2.1 billion |
Hurricane Iniki — Sept. 1992 | $ 2.0 billion |
Hurricane Losses by Year (1992—2001): Number of Hurricane Catastrophes and Estimated Insured Loss (adjusted to 2001 dollars) |
|
2001 | 0 |
2000 | 0 |
1999 | 5, $2.5 billion |
1998 | 2, $3.6 billion |
1997 | 1, $66 million |
1996 | 3, $2.1 billion |
1995 | 3, $3.9 billion |
1994 | 0 |
1993 | 1, $36.8 million |
1992 | 2, $21.6 billion |
Ten Most Intense Hurricanes, Categories 5 and 4, (1900—2002) (measured by Saffir-Simpson Hurricane Disaster-Potential Scale) * |
|
Florida (Keys) — 1935 | Category 5 |
Camille — 1969 | Category 5 |
Texas (Galveston) — 1900 | Category 4 |
Louisiana (Grand Isle) — 1909 | Category 4 |
Louisiana (New Orleans) — 1915 | Category 4 |
Florida (Keys)/So. Texas — 1919 | Category 4 |
Florida — 1928 | Category 4 |
Donna — 1960 | Category 4 |
Carla — 1961 | Category 4 |
Andrew — 1992 | Category 4 |
* Saffir-Simpson Hurricane Disaster-Potential Scale classifies hurricanes on their intensity and damage potential under five categories, with Categories 5, 4 and 3 being the most destructive. The scale does not measure insured property losses. |
Release: Immediate
Contacts:
Giuseppe Barone / Erica Helton
MWW Group (for ISO)
201-507-9500
gbarone@mww.com / ehelton@mww.com