According to a report released by the Insurance Services Office (ISO), U.S. property and casualty insurers paid $24 billion in claims for 2001—the largest amount ever—mainly a result of the terrorist attacks on the World Trade Center. More than $16 billion were related to the terrorist attacks.
While the $24 billion amount is staggering, it could be adjusted even higher depending on the outcome of lawsuits related to 9/11.
The $24 billion figure contrasts with the previous year, when property and insurance insurers only paid out $4.3 billion in claims.
Also part of the 2001 tally, insurers paid out $2.5 billion because of destruction caused by Tropical Storm Allison and $1.9 billion as a result of a St. Louis hailstorm.
Topics Carriers Property Casualty
Was this article valuable?
Here are more articles you may enjoy.
Connecticut High Court: Injured Rental Car Occupants Covered for Uninsured Motorist 
Vehicle Complexity Complicates Auto Valuation, Says JD Power 
Mustard Maker Caught Pumping Pollutants Into River for Years and Lying About It 
Albertsons Reaches $774 Million Opioid Accord, Records Loss 
