Hurricane Katrina may cost U.S. insurers more than $30 billion, which would make the storm the most expensive to hit the United States, a storm modeler said.
A $30 billion payout would make Katrina more expensive than Hurricane Andrew, which resulted in more than $20 billion of claims when it plowed through southern Florida in 1992.
But given the fact the water pumps are out and the fact the storm surge is hitting Lake Pontchartrain as I type this I do fear that the entire city will be swamped with at least 8-10 feet of water within the next 4-6 hours. And if it really floods we maybe talking damage in the city that could approach US$1 trillion. 