Katrina 5 Years Later
According to a new white paper from the Insurance Information Institute on the five-year anniversary of Hurricane Katrina, which made landfall in Louisiana on Aug. 29, 2005:
$41.1 Billion
The amount that private sector insurers paid policyholders after receiving 1.7 million auto, home and business claims. This makes Hurricane Katrina the costliest disaster in the history of the global insurance industry.
$16.1 Billion
The amount paid out by the National Flood Insurance Program (NFIP) in flood insurance claims, a dollar amount higher than what the NFIP paid to all of its claimants combined between 1968 and 2004.
97%
The percentage of all Katrina-related losses originating in Louisiana and Mississippi. Alabama, Florida, Georgia and Tennessee were also impacted.
2%
The percentage of Katrina homeowners insurance claims in Louisiana and Mississippi that were disputed either through mediation or litigation.
99%
The percentage of the 1.2 million Katrina personal property claims that were settled by the second anniversary of the disaster.
$3 Billion
The estimated claims dollars paid by private sector insurers in Katrina-related offshore energy facility claims.
Topics Louisiana
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