Property Claims Services Report - Q3 2022 Update
Nationwide PCS estimates for the third quarter of 2022 were $45.5 billion. This loss level is well above the long-term average from 1950-2021 of $8.8 billion, the 2007-2021 average of $14.8 billion and the most recent 5-yr (2017-2021) average of $31.4 billion. The quarter’s cat activity was highlighted by Hurricane Ian which made landfall as a Category 4 storm on September 28 near Fort Myers, Florida, and produced $40.9 billion of damage.