Hurricane Katrina is estimated to have caused up to £14bn worth of damage, with Lloyd's bearing a heavy burden. Munich Re confirmed its losss will be $490m
Adjuster Mark Huxley, client services director for Axis International, said: "If the figures are correct, this is the largest ever insured hurricane event. We have an early response team prepared and will be getting the right people to the sites."
More than 50 people were killed. Loss of life and damage could have been even worse, since the hurricane weakened on reaching land and New Orleans avoided a direct hit.
A Lloyd's statement said it expected "significant insurance claims" as a result damage to offshore energy installations, property damage and business interruption.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
