US – Hurricane Isaac may cost insurers USD 2 billion

According to estimates from risk modelling firm AIR Worldwide, hurricane Isaac (category 1) could cause insured losses between USD 700 million and USD 2 billion. The estimates include wind and storm-surge damage to onshore residential, commercial and industrial properties and their contents, motor vehicles, additional living expenses for residential properties and business interruption for commercial properties. The estimates are a fraction of USD 41.1 billion, which were incurred for Katrina, which struck Louisiana and caused flooding in New Orleans.