Insured catastrophe losses reached record $56.8b in '05.

Five storms accounted for nearly 93% of 2005's record $56.8 billion in insured catastrophe losses, according to the Insurance Services Office Inc.

Hurricanes Dennis, Katrina, Ophelia, Rita and Wilma caused about $52.7 billion in insured losses, both homeowners and business claims, ISO said. In all, there were 24 catastrophic events in 2005, adding up to $56.8 billion in expected claims to be paid by U.S. property/casualty insurers. The loss, which includes homeowners and business claims, is more than twice the record $27.3 billion in catastrophe claims incurred in 2004.

Dennis caused $1.2 billion in insured losses during the third quarter of 2005. Katrina, the most costly U.S. hurricane on record, caused $38.1 billion of losses when it struck in late August. Ophelia, another third-quarter storm, caused $35 million, and Rita caused about $5 billion, according to ISO. Wilma caused $8.4 billion in the fourth quarter.

According to ISO, policyholders in 39 states filed more than 4 million personal and commercial property and automobile claims related to catastrophes in 2005. More than 80% of the claims came from five states--all of which were battered by Katrina, Rita, Wilma or other hurricanes:

* Louisiana with $27.2 billion in claims, nearly as much as all 2004 catastrophe claims;

* Mississippi with $12.2 billion;

* Florida with $9.9 billion;

* Texas with $2.9 billion; and

* Alabama with $1.5 billion.

Record 2005 Cat Losses By the Numbers

$56.8 billion Total insured catastrophe losses in 2005.

$52.7 billion Insurance loss caused by hurricanes Dennis, Katrina, Ophelia, Rita and Wilma during 2005.

1.1 million The number of fourth-quarter claims in 2005, accounting for $8.9 billion of insured loss, the costliest fourth quarter in the past 10 years.

Source: Insurance Services Office Inc.