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Afternoon August 29, 2005: Risk Management Firm Predicts $9-$16B in Insurance Claims

2005-08-29

Egecat Inc., a risk management firm, reports that Katrina may be the second most-expensive hurricane ever for the insurance industry. Egecat predicts that insurance claims will total between $9 and 16 billion, second only to the $20.8 billion in damages paid out for Hurricane Andrew in 1992. This estimate is lower than Egecat’s morning prediction of $15-$30 billion. [Times-Picayune Blog, 8/29/2005]