Court Finds U.S. Liable For Some Katrina Damages

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

Loretta Worters, vice president of the New York-based Institute, told NU the industry has already paid out most of its Katrina-related losses, so the ruling should not impact property insurers.