US catastrophes start to add up but prices remain unaffected

The 2008 hurricane season is looking similar to that of 2004, when primary insurers bore the brunt of the losses

Latest estimates of insured losses from hurricane Ike put the claims cost in the region of US$7-$12bn, adding to an already above-average year for US catastrophe losses. But rating agencies say that the increased number of natural catastrophes this year is unlikely to have a material effect on US property/casualty pricing trends.