Katrina flooding damage cost estimated at...

[LAwxrgal]

...$44 BILLION!!!

MIAMI (Reuters) - Flooding and storm surge from Hurricane Katrina caused about $44 billion of property damage in Louisiana, Mississippi, Alabama and Florida, risk analysis company AIR Worldwide estimated on Thursday.

"That is exclusive of wind damage. That is just water," he said. "A portion of this is obviously going to be insured."

The company gave the following breakdown:

New Orleans - $22.6 billion

Louisiana - $16.2 billion

(except New Orleans)

Mississippi - $4.4 billion

Alabama - $793 million

Florida - $32 million

http://news.yahoo.com/s/nm/20050929/us_ ... s_water_dc

[Derek Ortt]

that seems on the low side, as it would have inflation adjusted losses as less than Andrew, although that is just water damage. The winds themselves did a number on Mississippi and the high rises in New Orleans in the french quarter and CBD

[recmod]

that seems on the low side, as it would have inflation adjusted losses as less than Andrew, although that is just water damage. The winds themselves did a number on Mississippi and the high rises in New Orleans in the french quarter and CBD

Take the $44 Billion estimated flood losses added to the $40-$60 Billion estimated wind damage (quoted from Risk Management) and we have a considerably higher damage total than Andrew. While the article quoted above states that the $44 Billion number includes both insured and uninsured losses, the Risk Management estimate for wind damage is ONLY for INSURED losses. With the typical 2:1 ratio, that would bring the TOTAL wind damage estimate to $80-$120 billion.....meaning the overall total losses now are in the neighborhood of $120-$165 billion!!!!

--Lou

[ohiostorm]

Ive heard 200 billion from a couple sources. That was overall loss.