Insurers Paid More than $40 Billion in Hurricane Katrina-Related Claims

Monday, March 5th, 2007 — Insurance companies have settled, without dispute, nearly all of the 1.7 million claims totaling $40.6 billion from Hurricane Katrina, the most expensive disaster in the history of insurance, said Dr. Robert Hartwig, president and chief economist of the Insurance Information Institute (I.I.I.), in testimony delivered today at a hearing of the U.S. House Financial Services Committee’s Subcommittee on Oversight and Investigations.