$58 Billion Price Tag for U.S. Hurricane Damage

Advisen Ltd. Tuesday estimated worldwide insurance and reinsurance losses related to the three major hurricanes that hit the United States this year would amount to $57.6 billion, making the cumulative catastrophe losses the largest on record.

The losses amount to more than twice the annual total for other U.S. natural disasters and one-and-a-half times the losses from the 2001 terrorist attacks in New York and Washington.

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