Hurricane Katrina and Insurance: Two years later
Wednesday, August 8th, 2007 Catastrophe PropertyThe single largest loss in the history of the insurance industry occurred two years ago this month when Hurricane Katrina struck the Gulf Coast, causing $40.6 billion in insured damage. Nearly two years later, the overwhelming majority of claims have been settled. The magnitude of Hurricane Katrina triggered a reexamination of how the United States deals with the financial consequences of natural disasters among insurers, reinsurers and public policymakers, which continues today, according to the Insurance Information Institute (I.I.I.).
External References & Further Reading
http://www.iii.org/media/updates/press.775235/
