Hurricane Katrina Hits
The eye of Hurricane Katrina passed over Bay St. Louis, MS, a small town just 50 miles east of New Orleans, on August 29th 2005. The damage was catastrophic, costing an estimated $108 billion and killing more than 1800 people. Louisiana suffered the greatest number of casualties as the deluge of rain caused critical levee failure, resulting in levee breaches in 20 locations and flooding in 80% of the city.
Hurricane Katrina marked a major turning point in insurance both locally and nationally as insurance companies found themselves unable to handle the massive influx of claims. As a result there have been overhauls in flood, wind and hail requirements nationwide and FEMA will be re-mapping flood zones in 2017.