Seen in Insurance Journal:
One risk modeling firm estimates that insured losses to onshore properties in the U.S. are between $2 billion and $4.5 billion, with an expected loss of $3 billion due to Hurricane Gustav. According to AIR Worldwide Corporation theses loss estimates do not account for any flooding that may yet result from the breach of natural defenses such as levees.
In other words, Gustav was about 10% of Katrina, insurance-wise.
Now, we get to wait and see what love Hanna, Ike, and Josephine will bring.
