NU Online News Service, Aug. 27, 12:00 p.m.EDT

Preparation is the word of the day for residents of the GulfCoast from Louisiana to the Florida Panhandle as Tropical StormIsaac sets its sights on a New Orleans landfall.

In the meantime, the Florida peninsula is getting hammered byIsaac's 60-70 mph winds and torrential rains. Thousands are withoutpower and flooding has been reported.

Though much uncertainty remains, forecasters says Isaac isscheduled to strike land near New Orleans as a Category 2 hurricane(96-110 mph) sometime late Tuesday—nearly seven years to the dayHurricane Katrina did the same as a Category 3 storm on Aug. 29.The storm's outer bands should reach Louisiana and Mississippitonight.

“Today is the day for preparing while the weather is stillgood,” says National Hurricane Center (NHC) Director Rick Knabb ina podcast.

Insurance trade associations have issued tips to prepare for theoncoming storm. The states' insurance commissioners have likewiseadvised residents to prepare, and have promoted awareness ofevacuation routes.

The National Weather Service has issued a hurricane warning fromMorgan City, La. to Destin, Fla.

Alex Sosnowski, a senior meteorologist with AccuWeather.com says Isaac likely won't be as bad as Katrina,but storm surge flooding, inland flooding, damaging winds,tornadoes and beach erosion are all significant risks as Isaacmakes landfall with winds of more than 100 mph.

“The angle at which Isaac could come ashore could still drive asubstantial amount of water inland quickly over southeasternLouisiana and southern Mississippi,” writes Sosnowski, adding thatlevees in the Crescent City will be tested.

Catastrophe risk modeler Risk Management Solutions (RMS) reportsIsaac's wind field has expanded, meaning a very large area ofcoastline, as well as inland, is likely to be impacted when Isaacmakes landfall.

Storm surge could reach 6-12 feet in Louisiana andMississippi.

According to catastrophe modeler AIR Worldwide, oil companies inthe Gulf of Mexico began shutting down offshore oil and gas rigsthis past weekend.

Risk modeling and management firm Karen Clark & Co.'s winddamage scale says a hurricane of Isaac's predicted windstrength of 100 mph at landfall can be expected to cause localizeddamage to roofs and non-engineered buildings, with cladding damageto structures from wind effects and debris. Significant tree damageand power outages can be expected.