Hurricane Katrina is set to be the most expensive storm to hit America, with damage claim estimates reaching $26bn.
Eqecat, a catastrophe management solution company, estimated insured property damage claims between $9bn and $16bn, with some estimates ranging as high as $26bn.
Eqecat senior vice president Thomas Larsen said: "We expect the bulk of damage to be wind-related, but there is significant flood risk to commercial insurers.”
Risk Management Solutions, a Newark risk forecaster, estimated that the insured losses would fall in the range of $10bn to $25bn.
Most of the damage will be registered where the storm made landfall on Monday morning in Louisiana, but the storm is still making its way up through Mississippi causing more damage.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
