Figures

July 21, 2008

$100,000

Many property owners suffered large losses in the June 2008 flooding event in southern Wisconsin. But few lost a fleet. James Pritzlaff’s collection of classic cars is still under about four feet of water that overflowed from Lower Genesee Lake. The former teacher estimates the damage at about $100,000. He says the biggest loss is his cherished 1939 BMW. Pritzlaff started his collection in 1982 with a 1948 Lincoln Continental. It includes a dozen classic cars and one antique tractor. But when Pritzlaff looks down from the balcony of his hobby shop in the town of Summit now, all he can see are the roofs poking through the water like large lily pads.

$13 Million

New estimates say a fierce storm in late June brought wind gusts higher than 115 mph to the Omaha, Neb., area left nearly $13 million in damage in its wake. The Nebraska Emergency Management Agency says the June 27 storm that covered an area from Fremont through Omaha wrought $12.7 million in damage. The assessment was made by local, state and Federal Emergency Management Agency officials over Douglas, Sarpy, Dodge and Saunders counties. The preliminary damage amount includes road damage caused by falling trees or flooding, storm sewer damage, Omaha Public Power District costs and personal property damage. Officials say the number does not include crop damage estimates. No estimates were given for insured losses.

5.3 Million

Nebraska Beef Ltd. is expanding a recall announced on July 1 to include all 5.3 million pounds of meat it produced for ground beef between May 16 and June 26. Federal investigators have linked Nebraska Beef’s products to an outbreak of E. coli illnesses affecting 41 people in Michigan and Ohio. The USDA’s Food Safety and Inspection Service said in a statement that it concluded Nebraska Beef’s production practices were insufficient to effectively control E. coli bacteria. The products subject to recall may have been produced under unsanitary conditions, the government said. All the beef being recalled was sold to wholesalers and distributors for further processing so consumer labels likely will not include the “EST 19336” code that identifies Nebraska Beef. The federal Centers for Disease Control and Prevention estimates that E. coli sickens about 73,000 people and kills 61 each year in the United States.

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Insurance Journal Magazine July 21, 2008
July 21, 2008
Insurance Journal Magazine

Excess, Surplus & Specialty Markets Dir. Vol. II