Fitch: Katrina Likely To Be Largest Insured Loss Since 9/11, 1992’s Hurricane Andrew

Tuesday, August 30th, 2005 — Fitch Ratings indicated on Monday that Hurricane Katrina will likely be the largest insured loss from a single event since the terrorist attacks of Sept. 11, 2001, and will be the largest U.S. hurricane loss since Hurricane Andrew struck in 1992. So far, two major hurricane modeling firms have released preliminary estimates of the insured losses from Katrina where EQECAT estimates the insured loss to be in the range of $12 to $25 billion, and Risk Management Solutions Inc. estimates the loss to be between $10 to $25 billion.