Almost a year after it was struck by Hurricane Katrina, Louisiana's economy is in desperate shape, but conditions for that state and Mississippi should improve as insurance claims payments and $107 billion in federal aid arrive, an insurance trade group predicts.
That forecast comes from the Property Casualty Insurers Association of America (PCI) based in Des Plaines, Ill., in a report on "Rebuilding the Gulf: The Impact of Insurance Claims Payments on Post-Hurricane Economic Recovery in Louisiana and Mississippi."
In the time since the storm arrived on Aug. 29, 2005, insurers have settled more than one million claims for all lines including homeowners, commercial property, business interruption and personal and commercial automobile, PCI reported
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