Catastrophe & Restoration

Guy Carpenter, a global risk and reinsurance specialist, has released its annual study of the property catastrophe reinsurance market, The World Catastrophe Reinsurance Market: 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.

Despite the ravages of four hurricanes in Florida last year, the nation's property and casualty insurers reported profits of $41.3 billion in 2004.

Less than a month after Hurricane Katrina made landfall near the Louisiana-Mississippi state line, the first legal actions were taken on behalf of the storm's victims.

With very little debate, Congress approved an emergency appropriation bill to meet immediate needs arising from the consequences of Hurricane Katrina.

DirecTV, a satellite television service, has launched a 24-hour channel dedicated to Hurricane Katrina information.

Four in 10 homeowners fail to perform the simple tasks that could prevent an occurrence that accounts for a large proportion of homeowner claims.

When Florida suffered through its four-pronged hurricane siege last year, the insurance industry responded quickly, but not quick enough, according to some critics.