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(From Reinsurance)
US property/casualty insurers paid a record $27.3bn for insured property losses to homeowners and businesses from 22 catastrophic events last year - surpassing losses from 2001 that included the attack of September 11 2001 - according to estimates by ISO's Property Claim Services (PCS) unit.
Over 80% of the insured losses were from the five hurricanes that made landfall in the US along the Atlantic and Gulf coasts. The last time back-to-back hurricanes struck the US was in 1999, the year of hurricanes Bret, Dennis, Floyd, Irene and Lenny.
Policyholders in 42 states and Puerto Rico filed nearly 3.35 million personal and commercial property and automobile claims.
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