Rash Of Storms Hits U.S. Insurers

Insurers suffered their most catastrophic fourth quarter ever last year as Hurricane Opal helped push property damage to $2.6 billion, the insurance industry reported Monday.

The record-shattering quarter capped the third-biggest year for natural catastrophes. Disasters ranging from Pacific Coast storms to violent Southwest hail caused $8.3 billion in damage to insured properties last year, the American Insurance Services Group said.

An unusually large number of 1995’s 34 catastrophes hit densely populated areas.