The cost of damage from Hurricane Katrina to state-owned buildings in Louisiana totals nearly $1.3 billion–a figure that is expected to grow as the full extent of the damage is determined, according to preliminary estimates.
The Associated Press reported that the state has $500 million of insurance coverage on the structures and a $25 million deductible. Louisiana is expecting FEMA cover the costs over and above the insurance coverage. Additional damage to state buildings from Hurricane Rita is still being assessed. Mold and asbestos problems, a lack of materials and a high demand for contractors for rebuilding projects are likely to complicate rebuilding process.
Was this article valuable?
Here are more articles you may enjoy.
Hedge Funds Make Their Move as Litigation Finance Assets Slump 
Brown & Brown Wins Temporary Injunction Against Howden 
Maryland Announces $2.5 Billion Settlement Over Baltimore Bridge Collapse 
Tesla Premiums Soared in 2025 With Loss Ratios Worse Than Industry From This Issue
