Search
 

Katrina: Devastation on the Gulf Coast

With rescue operations coming to a close and recovery efforts underway all along the battered Gulf Coast, experts are still unsure as to what the insured damages from Hurricane Katrina will be.

By Phil Gusman | Updated on September 22, 2005

With rescue operations coming to a close and recovery efforts underway all along the battered Gulf Coast, experts are still unsure as to what the insured damages from Hurricane Katrina will be. Assessments given to this point are no more than best guesses, as the Insurance Information Institute states that the size of losses will be unknown for some time. Many experts agree, however, that the damage done by Katrina will represent the largest insured losses ever in the United States.

The catastrophic damage done by the storm is evident even without seeing figures put forth by experts and analysts. Although the death toll now is said to be significantly lower than the 10,000 figure circulated earlier by some media outlets, fatalities still are predicted to be somewhere in the thousands. Aside from the loss of life, the impact on surviving residents in the regions struck by Katrina was shown on news stations throughout the world, the sharp spike in prices paid at the pump illustrated the effect on the energy industry, and images of destroyed houses and buildings indicate that the situation will be a challenge for insurers, as well.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.