Tuesday, September 06, 2005
Double the loss of Andrew
A British insurance company is estimating the total insurable loss from Katrina will fall between $35 and $50 billion. That implies, of course, that the total loss will be still greater, since a lack of insurance goes along with the poverty of New Orleans.
Ultimately New Orleans will be booming. A disaster takes funds that would normally go to insurance executives and stockholders and redistributes them, at least partially, among the gainfully employed.
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