By Elliott Laudeman, vice president, Insurance Underwriters Ltd.
Although it was only a Category 3 storm when it made landfall and didn't directly hit New Orleans, Hurricane Katrina turned the Big Easy into a living hell. It was at 3 a.m. on Aug. 29, 2005 that New Orleans changed–forever.
This is a reflection of the insurance loss suffered by the Sugar Bowl, some four months before the 71st annual football game was played. The events leading up to that game provide textbook material for insurance scholars on how to handle catastrophic claims.
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