With catastrophe damage creating insured losses across the country, property and casualty insurance carrier results suffered in the first half of 2011.
New analysis from Lockton Inc. notes that losses from catastrophes nearly tripled, increasing to $23.9 billion in 2011 from $8 billion during the first half of 2010. As a result of these losses, the industry’s combined ratio declined to 110.5 percent, which is the worst six-month result since 2001.
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