Late News; Property cat losses hit record in 2004: PCS.

Business Insurance, February, 2005

Catastrophes caused a record $27.3 billion in insured property damage in the United States in 2004, according to the Insurance Services Office Inc.'s Property Claim Services unit. The United States last year saw 22 catastrophes, according to PCS, which defines such events as those that cause $25 million or more in insured property losses and affect a significant number of policyholders and insurers.

The 2004 total surpassed the $26.5 billion record set in 2001, which included property losses caused by the Sept. 11 terrorist attacks. GM dropping Walgreens from drug network General Motors Corp. said it is dropping Walgreen Co. from its network of prescription drug providers out of concern that the drugstore chain would not service GM employees in response to...

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