Parsad Posted August 28, 2021 Share Posted August 28, 2021 Losses from Katrina were around $125B...Ida looks to be stronger than Katrina! Berkshire usually accounts for 5-8% of such losses...Fairfax usually gets hit with 0.5-1% of such losses. I wonder if the area/levies have been reinforced to withstand Category 4 hurricanes better after the Katrina experience...we'll soon find out! Cheers! https://www.cnn.com/2021/08/28/weather/hurricane-ida-saturday/index.html Link to comment Share on other sites More sharing options...
DooDiligence Posted August 28, 2021 Share Posted August 28, 2021 The pumps are an important part of this system. We'll see. https://abcnews.go.com/Technology/wireStory/explainer-orleans-protected-hurricane-79693042 Link to comment Share on other sites More sharing options...
gfp Posted August 28, 2021 Share Posted August 28, 2021 I don’t think Berkshire would be on the hook for 5-8% of a gulf super cat today. They are way smaller in that business now. Also, if levees break it causes a flood, which would be largely a federal flood insurance / FEMA loss. If this storm can weaken over less populated areas and move on out it may be less costly than Katrina. But, yes, the Federal Government spent a fortune improving the levees and flood gates that protect New Orleans since Katrina. Link to comment Share on other sites More sharing options...
glider3834 Posted August 31, 2021 Share Posted August 31, 2021 https://www.fitchratings.com/research/insurance/hurricane-ida-not-capital-event-for-louisiana-re-insurance-market-30-08-2021 Link to comment Share on other sites More sharing options...
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