Hurricane Katrina — After the Storm

Flood vs. Wind Damage

“Insurance companies paid, on average, $500,000 for flood damage. But there was wind damage from the hurricane, and a lot of that was not covered,” Chalifoux continues. “The money printers did collect was not near enough to recoup from the damage. Thus, many of them opted out of the business, rather than try to start over or rebuild with only a fraction of the funds they needed—which would be a daunting task.”