Charley runs up big tab in Florida.

US. property/casualty insurers are expected to pay between $6.8 billion and $7.4 billion for insured property losses from Hurricane Charley, according to industry estimates. Initially, the Insurance Information Institute set Charley's price tag at $7.4 billion; subsequently, the Property Claim Services unit of Insurance Services Office Inc. reported the lower loss estimate.

State Farm and Allstate Corp. are the top two homeowners insurers in Florida. State Farm estimates it will pay $1.3 billion in claims from Hurricane Charley, the highest dollar loss among insurers that had released losses from Charley as of early September. Allstate estimates that its pretax catastrophe Charley losses are about $425 million, net of recoveries from the Florida Hurricane Catastrophe Fund, or $276 million after tax.

Charley, a Category 4 hurricane, swept through southwest and central Florida on Aug. 13, with winds reaching as high as 145 mph.

Charley lost its strength by Aug. 14, when it reached the coastal areas of North Carolina and South Carolina, which suffered insured losses of $25 million and $20 million, respectively, according to PCS.

Florida accounts for 605,000 of the nearly 622,000 Charley-related claims that insurers expect to receive from homeowners and businesses for insured losses to personal and commercial property and vehicles, PCS said.

Charley is the second-costliest hurricane for insurers after Hurricane Andrew, which hit Southern Florida in 1992, causing insured losses of $20.3 billion in inflation-adjusted dollars.

Estimated Losses from Hurricane Charley

* Ace Ltd.: $100 million

* Allmerica Financial Corp.: $40 million pretax losses

* The Allstate Corp.: $425 million net of recoveries from the Fla. Hurricane Fund or $276 million after tax and 40 cents a share after tax

* American Financial Group Inc.: $8 million

* American International Group Inc.: $80 million-$100 million

* American National Insurance Co.: $7 million

* Aspen Insurance: $35 million to $50 million after reinsurance and tax

* Arch Capital Group Ltd.: $24 million to $44 million

* Assurant: $20 million

* Chubb Corp.: $35 million to $40 million

* Clarendon Insurance Group: Gross loss of $130 million and a net loss of $30 million

* CNA Financial Corp.: $40 million to $60 million

* Endurance Specialty: $43 million to $48 million

* Everest Re Group Ltd.: $40 million

* Hannover Re: $120 million

* Hartford Financial Services Group Inc.: Pretax loss of $140 million and after tax $91 million

* HCC Insurance Holdings Inc.: $10 million

* Horace Mann Educators Corp.: $12 million to $14 million

* IPC Holdings Ltd.: $35 million to $45 million

* Midland Co.: $4 million

* Montpelier Re Holdings Ltd.: $48 million to $63 million

* Munich Re: $100 million

* Nationwide Mutual Insurance Co.: $380 million

* Odyssey Re Holdings Corp.: $20 million

* Ohio Casualty Group: $6 million to $8 million

* PartnerRe Ltd.: $35 million to $45 million

* Penn-America Group Inc.: $1 million

* Philadelphia Consolidated Holdings Corp.: $6.8 million

* Platinum Underwriters Holdings Ltd.: $20 million to $35 million

* PXRE Group Ltd.: $18 million

* RenaissanceRe Ltd.: $100 million to $140 million

* RLI Corp.: $3 million to $4 million

* Safeco Corp.: $45 million

* Scor: $12 million

* St. Paul Travelers Cos. Inc. $140 million, after accounting for reinsurance and after-tax losses

* State Farm: $1.3 billion

* Swiss Re: $200 million

* Transatlantic Holdings Inc.: $32.5 million

* United National Group Ltd.: About $300,000

* Unitrin Inc.: $5 million

* USAA: Less than $200 million

* White Mountains Insurance Group Ltd.: $45 million

* W.R. Berkley Corp.: $5 million

* XL Capital: $125 million

* Zenith National Insurance Corp.: $3 million after tax losses