Storm insurers indicated they are ready
Washington - Hurricane Katrina is virtually certain of the natural disaster the most expensive in the history of USA, but companies ensure that the houses, shops and cars, they are not worried.
“We are naturally ready to work with this,” said Dick Luedke, spokesman for State Farm, the largest insurers Katrina’s desert.
Carrier insurance face a $ 35 billion in preliminary damage estimates, based in California Risk Management Solutions.
But this is only a small fraction of the damage tab of the company said. The figures of total economic losses from the hurricane and what he calls the Greater New Orleans-tide will be available beginning at $ 100 billion.
The only thing comparable, RMS said, 1953 was flooded storm wind, a subgroup of sea level in the Netherlands in 1800 and the massacre inundating 47000 properties. It took six months to pump water, the company said.
Katrina damage is likely to exceed $ 21 billion cost of Hurricane Andrew, which Hit Florida in 1992 and resulted in a snowstorm debt has the effect that 12 insurance providers go under.
But this week, Assekuranz representative said that companies consider that “Katrina” in the way politics are willing to shoulder the load.
“During this event may be the surprise of the Federal Emergency Management Agency, certainly not as a surprise to us,” said Robert Hartwig, Senior Vice President and Chief Economist for the insurance industry Information Center.
“The events of this kind are good, what we have in the plan,” he said. “The industry is fully capable of paying these debts, and there is no risk of insolvency”.
That can not be true for tens of thousands of homeowners, however.
Homeowner insurance covers expenses for damage caused by the use of house Katrina strong winds and a related damage to water the wind. But for homeowners whose loss is mainly by floods barrage of injuries, they are only if you buy national flood insurance.
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