Damp squib Isaac spares (re)insurers from major loss
Despite reviving bleak memories for the residents of New Orleans
as it struck Louisiana seven years to the day that Katrina made
landfall, Hurricane Isaac ultimately appears to have turned into a
damp squib for (re)insurers, at least according to the cat
modelling agencies.
While 2005's Hurricane Katrina still ranks as the costliest
ever catastrophic event for insurers, last week's weak Category
1 storm is expected to produce relatively modest claims.
Early estimates from catastrophe modelling agencies put insured
losses...
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