U.S. insurers face up to US$4.4 billion Frances tab

The total insured loss arising from Hurricane Frances will likely be in the order of US$4.4 billion, according to the latest loss estimate released by the Insurance Services Office (ISO). The ISO expects that about 552,000 claims from both homeowners and businesses will be filed as a result of the hurricane.The ISO notes that Florida incurred the heaviest damage from Hurricane Frances, with approximately 500,000 claims worth US$4.1 billion expected from the region. After making landfall between West Palm Beach and Vero Beach in early September, Hurricane Frances lost much of its strength and was downgraded to a tropical storm. However, as the storm moved north, it triggered several tornadoes that affected Georgia, South Carolina, North Carolina and New York, causing 30 deaths.