Can you believe it's been a decade since Hurricane Katrina?
This disaster left its mark as the costliest hurricane to make landfall in the US. It was also the costliest disaster in the history of insurance, with almost $80 billion (2015 USD) in insured losses.
Beyond the losses, Katrina left an indelible imprint on our industry. It forever changed the way both insurers and the insureds view risk management, property, liability claims, as well as emergency preparedness efforts. Take a quick look at our Katrina facts & figures infographic.
Where do we go from here? We've gathered our experts to explore lessons learned, and where we stand should a similar event occur today.
In 10 Years after Hurricane Katrina, we examine how Katrina changed the way we view exposure concentration, catastrophe modeling, and how prepared we are for similar events today.
Our Open Minds blogs look at:
- What the financial insolvency of the NFIP means for the future of flood insurance
- How Katrina started the "urban resilience" discussion
- On the ground observations
- The impact of Katrina on the climate change debate
- How social media is affecting disaster preparedness and response efforts
It's taken time to address the problems posed by natural catastrophes like Katrina, and there is still some way to go. But we're making some good progress, and I'm excited about what's to come.
Head US P&C, Swiss Re
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