Insurers Face Up To $1.5B In Losses From Hurricane Isaac

Law360, New York (August 29, 2012, 1:58 PM EDT) -- Hurricane Isaac could pummel insurers with property and business interruption losses of up to $1.5 billion, according to early estimates provided Wednesday, falling far below the $41 billion in insured losses caused by Hurricane Katrina seven years ago.

Isaac is following a path similar to the one of Katrina, the costliest hurricane in U.S. history. As of Wednesday afternoon, the hurricane was soaking southeastern Louisiana and southern Mississippi with heavy rain. The National Hurricane Center expects the threat of dangerous storm surge and inland flooding to...
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