Insured losses from Hurricane Katrina could total over $50 billion, consulting firm Towers Perrin said today, warning that insurers and society should prepare for an increased number of natural catastrophes.

The Stamford, Conn.-based professional services company report estimated insured losses from Hurricane Katrina to be between $40 billion and $55 billion. The figure does not include losses under the National Flood Insurance Program but does include losses for demand surge, cost increases incurred over the demand for materials, and services related to cleanup and reconstruction.

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