Munich Re revises Katrina loss upwards
As the full extent of the devastation caused by Hurricane Katrina has gradually emerged, natural catastrophe risk management specialists and other companies have revised their loss estimates upwards. Experts from Munich Re and American Re have now also concluded and evaluated a loss inspection of the hurricane-affected region. On the basis of this information, Munich Re now puts the overall insured market loss for Katrina at up to $30bn.
The company said that this figure does not include the flood and storm-surge losses covered under the National Flood Insurance Program. However, there are still significant uncertainties regardingOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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