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Hurricane Katrina Toll Cost
Personal photo: Rosalina Mujica
Hurricane Katrina has been the most destructive and costliest natural disaster in the history of the United States. The total damage from Katrina is estimated at $81.2 billion. Katrina may also cost as much as four years of war. The government never has dealt with a disaster of this scale, with hundreds of thousands of people displaced and an entired metropolitan area under water. The weekend after hurricane hit, the govrnment still was writing checks for close $2 billion per day on items such as the 17 millions meals ready to eat, ten thousands of trailers to house refugees, and contracts to rebuild highways and bridges. The costa will also depend on the recovery time needed for this process. The cost of oil was increase from the interruption of oil supply of the main oil refinery located in Chalmette, Louisiana. Federal spending on Katrina relief and reconstruction spending could top $200 billion including tax incentives. For the insurance industry, the cost could go up to $60 billion in claims, leading firms warn. Flood damage is expected to account for half the total economic loss. Also, for reinsurers the premiums will increase, and even there will special requirements fos a new policy could be issue. In areas of mayor flooding, the insurance company are demanding that the homes have to be raised at least 3 feet off the ground in order to keep the policy. Also, thousands of people lost their jobs after Katrina, they had to be under unemployment benefits, adding more cost to the disaster.
Horne, Jed. Breach of Faith. New York: The Random House, 2006.
Hurricane Katrina Toll Cost
Personal photo: Rosalina Mujica
Hurricane Katrina has been the most destructive and costliest natural disaster in the history of the United States. The total damage from Katrina is estimated at $81.2 billion. Katrina may also cost as much as four years of war. The government never has dealt with a disaster of this scale, with hundreds of thousands of people displaced and an entired metropolitan area under water. The weekend after hurricane hit, the govrnment still was writing checks for close $2 billion per day on items such as the 17 millions meals ready to eat, ten thousands of trailers to house refugees, and contracts to rebuild highways and bridges. The costa will also depend on the recovery time needed for this process. The cost of oil was increase from the interruption of oil supply of the main oil refinery located in Chalmette, Louisiana. Federal spending on Katrina relief and reconstruction spending could top $200 billion including tax incentives. For the insurance industry, the cost could go up to $60 billion in claims, leading firms warn. Flood damage is expected to account for half the total economic loss. Also, for reinsurers the premiums will increase, and even there will special requirements fos a new policy could be issue. In areas of mayor flooding, the insurance company are demanding that the homes have to be raised at least 3 feet off the ground in order to keep the policy. Also, thousands of people lost their jobs after Katrina, they had to be under unemployment benefits, adding more cost to the disaster.
Horne, Jed. Breach of Faith. New York: The Random House, 2006.