06 Storms May Surpass Katrina

Posted by Lisa Nichols Jul 2, 2006

Reported losses from 2006 hurricanes may surpass Katrina's $38 billion 2005 reported losses, a Catastrophe Modeling Expert warns.Karen Clark, president and chief executive officer of Boston-based AIR Worldwide, predicted catastrophe losses "will double about every 10 years due to increases in the numbers and values of properties at risk."

A catastrophe resulting in losses exceeding $100 billion "is not hard to imagine," she said. Source: www.insurancenewsnet.com

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