Whew. From the AP:
“According to preliminary assessments by AIR Worldwide Corp., a risk assessment company, the insurance industry faces as much as $26 billion in claims from Katrina. That would make Katrina more expensive than the previous record-setting storm, Hurricane Andrew, which caused some $21 billion in insured losses in 1992 to property in Florida and along the Gulf Coast.”
I’m assuming those numbers are adjusted to modern dollars from 1992 dollars, though it’s not clear.
My condolences to all those whose lives have been changed by this terrible storm. May the warm waters of the Atlantic be kinder in the remaining months of the Hurricane season.
