Jocelyn Augustino/FEMA)
August 30, 2015
Habig & Magoon Insurance Agency – in business for close to 80 years, and always family owned and always an independent agency – serves the people and businesses of southeastern Massachusetts, and beyond.
We protect people, property, and legacies.
As we are now in late summer, we are in the season that provides its own particular threat to life and property in the form of the atmospheric event called the hurricane.
Ten years ago, yesterday, the primary thrust of a hurricane – Hurricane Katrina – hit New Orleans and the surrounding Gulf Coast. It was one of the deadliest natural disasters in U.S. history.
Following is an excerpt from the Wikipedia page on Hurricane Katrina that provides information and background on the storm:
Hurricane Katrina was the eleventh named storm and fifth hurricane of the 2005 Atlantic hurricane season. It was the costliest natural disaster, as well as one of the five deadliest hurricanes, in the history of the United States. The storm is currently ranked as the third most intense United States landfalling tropical cyclone, behind only the 1935 Labor Day hurricane and Hurricane Camille in 1969, Overall, at least 1,245 people died in the hurricane and subsequent floods, making it the deadliest United States hurricane since the 1928 Okeechobee hurricane.”
If you click here you will be taken to the full Hurricane Katrina Wikipedia entry.
Almost impossible it is to get close to getting one’s arms around, and understanding, the human loss and pain of this event.
Loss in terms of dollars and cents, that worth and value is far more accessible. As reported in the Wikipedia page referenced above, “Total property damage was estimated at $108 billion.”
With such extraordinary material and financial loss, Hurricane Katrina necessarily became an immense insurance phenomenon. In fact, no event has resulted in more insured losses – $41 billion in insured losses – than Hurricane Katrina.
Hurricane Katrina caused a tremendous amount of rethinking about hurricane preparedness – which has been smartly and productively acted upon.
Property and casualty (P&C) insurance has changed because of Hurricane Katrina.
To read about some of these changes, please click here to be taken to a story, titled, “5 Major Changes in P&C Insurance since Hurricane Katrina,” published August 11 in PropertyCasualty360 magazine. The story was written by Jayleen R. Heft.
Habig & Magoon is expert at helping people and businesses secure just the right P&C insurance – including that which protects and insures against potential loss caused by hurricanes – at an affordable price.
If you are looking for home or property insurance, or have questions regarding a policy, or would like us to review and evaluate a policy you have, we are here and are most appreciative of the opportunity to help and serve you.
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