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December 18, 1991|From Times Staff and Wire Reports

Disasters Cost Insurers More Than $4 Billion: Insurers have paid out an estimated $4.1 billion to compensate homeowners and businesses for property damaged by natural disasters, making 1991 the second-worst year on record. According to the Insurance Information Institute, the fire that raged in Oakland during October was the single largest calamity, costing $1.2 billion. However, the fairly typical disasters of 1991 are expected to have little impact on the bottom line, since insurers set rates by estimating the cost of catastrophes over a 35-year period.

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