Financial Services Industry
Industry: Email Alert RSS FeedHurricane Katrina: Insurers Prepared to Deliver on their Promises.
Insurance Networking News: Executive Strategies for Technology Management, October, 2005 by Rutkowski, Therese
Insurers sell promises, and after Hurricane Katrina, they certainly have a lot of promises to keep.
At press time, the economic loss from what appears to be the worst hurricane in U.S. history-along with subsequent flooding of New Orleans-was expected to exceed $125 billion, according to Risk Management Solutions (RMS), a Newark, Calif.-based catastrophe management technology and services provider.
RMS estimated insured losses from Katrina alone would be between $40 billion to $60 billion, which would far exceed Hurricane Andrew's $21.5 billion in damage back in 1992 (see "Top Five U.S. Natural Disaster Losses").
The good news, if there is any with such a tragedy: The insurance industry is prepared to handle the hundreds of thousands of...
- How to choose the right insurance carrier for your business
- Real Estate: Prepare your properties to weather what lies ahead
- Technology: Be prepared if part of your global supply chain goes missing
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
