Hurricane Ida

[Parsad]

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

[DooDiligence]

The pumps are an important part of this system.

 

We'll see.

 

https://abcnews.go.com/Technology/wireStory/explainer-orleans-protected-hurricane-79693042

[gfp]

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. 

[glider3834]

https://www.fitchratings.com/research/insurance/hurricane-ida-not-capital-event-for-louisiana-re-insurance-market-30-08-2021