Editor's Note: This article originally appeared in National Underwriter, P&C.

A federal court ruling holding the Army Corps of Engineers, and the U.S. government by extension, liable for damage in New Orleans caused by Hurricane Katrina is unlikely to have much effect on the property-casualty industry, an Insurance Information Institute representative said.

Speaking to NU Online, Loretta Worters, vice president of the I.I.I., said the industry has already paid out most of its Katrina-related losses, so the ruling should not impact insurers.

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