Hurricane Insurance Losses $57.6 Bln
BUSINESS/ECONOMY
COMMENTARY
I guess this means rates for propery and vehicle insurance are going to rise.
NEWSLINE
The losses amount to more than twice the annual total for other U.S. natural disasters and one-and-a-half times the losses from the 2001 terrorist attacks in New York and Washington.
NEWSBYTE
Hurricane insurance losses $57.6 bln: Advisen
NEW YORK (Reuters) - Advisen Ltd. on Tuesday estimated worldwide insurance and reinsurance losses related to the three major hurricanes that hit the United States this year would amount to $57.6 billion, making the cumulative catastrophe losses the largest on record. Read full story.
TENSION: Economic
GRAVITY: Large scale
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Tags: News, photo, photos, pictures, Current Events, politics, Gulf Coast, Hurricane, Wilma, tropical storm, Katrina, Louisiana, New Orleans, Mississippi
COMMENTARYI guess this means rates for propery and vehicle insurance are going to rise.
NEWSLINE
The losses amount to more than twice the annual total for other U.S. natural disasters and one-and-a-half times the losses from the 2001 terrorist attacks in New York and Washington.
NEWSBYTE
Hurricane insurance losses $57.6 bln: Advisen
NEW YORK (Reuters) - Advisen Ltd. on Tuesday estimated worldwide insurance and reinsurance losses related to the three major hurricanes that hit the United States this year would amount to $57.6 billion, making the cumulative catastrophe losses the largest on record. Read full story.
TENSION: Economic
GRAVITY: Large scale
NOTE: Mouseover pictures for captions.
NOTE: All rights are reserved by image owners; site content is linked only.
Tags: News, photo, photos, pictures, Current Events, politics, Gulf Coast, Hurricane, Wilma, tropical storm, Katrina, Louisiana, New Orleans, Mississippi
posted by Steven Moyer at 1:42 PM
1 Comments:
I hope this story helps people understand the enormity of this disaster. Yes, Katrina made landfall as a Category 3 storm. But the storm surge that hit the Gulf Coast was as big as or bigger than Camille in 1969. The levees of New Orleans were designed to protect us from an approximate Category 3 storm, but Katrina just rolled right over most of our hurricane protection and breached it in critical spots. There are still large areas of the city without gas, without phones, without electricity even. To add insult to injury, FEMA won't provide a travel trailer unless you have electricity and sewer service available, so that's one reason why so many are still in hotels. I'm living and blogging in New Olreans, trying to explain it all. Check it out if you care to.
Peace,
Tim
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