Investors beware - your Katrina bullishness could be misplaced

There has been much discussion in our industry about Hurricane Katrina's impact, from the size of the loss, to litigation on coverage issues, to adequacy of reinsurance limits. But perhaps the most far-ranging impact of Katrina will be in terms of capital.In my view, the providers of capital can be expected to be cautious with catastrophe insurance and reinsurance. They are likely to seek higher prospective rates of return for their investments, which will then place strong pressure on prima