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Katrina Insured Losses May Be $60 Billion

Risk Management Solutions today announced that insured losses from Hurricane Katrina are estimated to be $40-to-$60 billion, of which $15-to-$25 billion is related to ...

By Staff Writer | Updated on March 04, 2005

Risk Management Solutions today announced that insured losses from Hurricane Katrina are estimated to be $40-to-$60 billion, of which $15-to-$25 billion is related to the Great New Orleans Flood.

According to Newark, Calif.-based RMS, a provider of products and services for catastrophe risk management, total economic losses are now expected to exceed $125 billion. On September 2, RMS released a preliminary insured loss estimate of $20-to-$35 billion (excluding flood losses in New Orleans). At that time, total economic losses were estimated at over $100 billion. The revised estimates reflect an analysis that RMS has performed to model and estimate the insured and uninsured loss components of the flood.

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