RMS Increases Insured Loss Estimate for Hurricane Katrina

On the day of Katrina's landfall on the Gulf Coast, RMS released a preliminary estimate of $10-25 billion for insured losses. Last week's increased estimate is based on more detailed information

By Staff Writer | Updated on September 06, 2005

Estimated insured losses from Hurricane Katrina’s direct impact have increased to $20-$35 billion, as announced late last week by Risk Management Solutions.

On the day of Katrina’s landfall on the Gulf Coast, RMS released a preliminary estimate of $10-25 billion for insured losses. Last week’s increased estimate is based on more detailed information from aerial and ground reconnaissance on wind and storm surge damage, as well as updated reports on damage to offshore platforms that sustained Category 5 winds as Katrina passed through the Gulf of Mexico.

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