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.
The estimate also covers liability insurance claims for pollution, negligent health and nursing home care, errors and omissions by insurance agents in explaining coverage, and other possible actions, the firm said.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 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.
