6 lessons insurers learned from Katrina

Ten years later, Katrina is still making an impression. Numerous lessons were learned from Katrina that have helped insurers and other first responders better prepare for other catastrophes. Some may seem obvious, but others demonstrate just how much has changed in the past decade.

By Patricia Harman | Updated on August 19, 2015

Talk to anyone who worked in New Orleans or the surrounding areas after Hurricane Katrina about their experiences and the reaction from these first-responders is immediate and emotional. From insurance adjusters and restoration contractors to vendors and government responders, their memories of the weeks and months spent along the Gulf Coast are vivid and frequently painful.

Katrina caused $96 billion to $125 billion in property damage, of which only $40 billion to $66 billion were covered losses. The massive storm destroyed an estimated 300,000 homes, impacted oil production, Louisiana’s sugar cane crops and chemical plants, and decimated the tourism industry along the Gulf.

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