For The Record.(New estimate of insured property losses from terrorist attacks on WTC and Pentagon reach $20.3 bn)(Legal Beat)(Brief Article)(Statistical Data Included)

Business Insurance, June, 2002

PCS increases Sept. 11 loss estimate The Insurance Services Office Inc.'s Property Claim Services unit has increased its estimate of insured property losses from the Sept. 11, 2001, attacks on the World Trade Center and the Pentagon to $20.3 billion. PCS had initially estimated losses of $16.6 billion.

The increase makes the attacks the costliest U.S. catastrophe in history, surpassing Hurricane Andrew in 1992, which PCS estimates caused an inflation-adjusted $19.6 billion in insured property damage. Supporters of federal chartering speak out A group of financial services trade groups anticipates mustering support from a broad array of business and consumer organizations in its effort win congressional approval of optional federal chartering of insurers....

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