Tag: Hurricane Katrina

COVID-19 Loss of $44 Billion Is Third-Largest Catastrophe Cost to Insurers

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According to insurance broker Howden, COVID-19’s insured losses of $44 billion so far represent the third highest cost to insurers of any catastrophe, trailing only Hurricane Katrina and the 9/11 attacks. However, Howden said in a report on reinsurance renewals that initial projections of $100 billion or more for COVID-19 insured losses now appear “improbable.”… Continue reading COVID-19 Loss of $44 Billion Is Third-Largest Catastrophe Cost to Insurers

Hurricane Ida Losses Likely Short of Katrina Totals, Could Hit $25B

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Preliminary loss estimates from Hurricane Ida approach $25 billion, but should remain well below what the U.S. Gulf Coast saw in August 2005 when it was devastated by Hurricane Katrina. While Ida is expected to generate significant economic and insured losses in Louisiana, it is “unlikely to trigger ratings downgrades of individual property and casualty… Continue reading Hurricane Ida Losses Likely Short of Katrina Totals, Could Hit $25B