Hurricane Ivan loss total reaches US$6 billion: ISO

The tally of insured losses from Hurricane Ivan is now expected to be about US$6 billion, according to the Property Claim Services unit of the Insurance Services Office (ISO). The storm, which hit the U.S. on September 16 is expected to produce 600,000 claims across the several affected states. The breakdown of state-by-state insured losses is: Florida at US$3.8 billion; Alabama at US$1.2 billion; Georgia at US$350 million; Pennsylvania at US$225 million; and North Carolina at US$135 million. Almost half of the total claims from Ivan will be from home and business owners in Florida.The US$6 billion price tag makes Ivan the third costliest hurricane in U.S history behind 1992’s Hurricane Andrew (US$20.3 billion in 2004 dollars) and Hurricane Charley (US$6.8 billion) earlier this year.The ISO has yet to release estimates for losses from Hurricane Jeanne, the most recent of the 2004 Atlantic storms, but the earlier hurricanes Charley, Frances and Ivan have together produce US$17.2 billion in insured losses.