ISO: Gabrielle Losses at $115 Million.
The storm caused flooding, tornadoes, wind and rain as it passed through Florida, said ISO spokesman Dave Dasgupta. About 42,000 claims have been filed, mostly for homes damaged by wind or flooding, Dasgupta said.
ISO's Property Claim Services unit defines a catastrophe as an event within a particular territory that causes $25 million or more in insured property losses and affects a significant number of property/casualty policyholders and insurers. The ISO loss analysis doesn't include flood losses that are covered by the federal National Flood Insurance Program.
The tropical storm, which made landfall Sept. 14, had winds of about 70 mph and caused heavy rain. It was the seventh tropical storm this season, but none has reached the status of a major hurricane.
For State Farm Group, the state's largest auto and homeowners insurer, Tropical Storm Gabrielle is expected to cause $17.5 million in auto and homeowners claims, excluding flood claims, said company spokesman Tom Hagerty.
Homeowners Insurers In Florida--2000 Rankings based on direct premiums written. Market Company Share (%) State Farm Group 20.40 HDI U.S. Group 11.59 Allstate Insurance Group 11.42 USAA Group 5.33 Nationwide Group 5.07 Source: A.M. Best Statement and Competitive Analysis Report Products Auto, Physical Damage, Insurers in Florida--2000 Rankings based on direct premiums written Market Company Share (%) State Farm Group 20.34 Allstate Insurance Group 18.75 Berkshire Hathaway Ins Group 11.57 Progressive Insurance Group 9.37 USAA Group 4.64 Source: A.M. Best Statement and Competitive Analysis Report Products
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|Title Annotation:||Insurance Services Office Inc., Tropical Storm Gabrielle|
|Comment:||ISO: Gabrielle Losses at $115 Million.(Insurance Services Office Inc., Tropical Storm Gabrielle)|
|Article Type:||Brief Article|
|Date:||Nov 1, 2001|
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