Hurricanes Katrina and Rita cut a wide swath, causing losses to a geographic area the size of England. The first round of damage came primarily from windstorm and storm surge. Initial damage was compounded by a range of perils, including the failure of the levees in New Orleans, looting, contamination, and the inability to access damaged property.

But the fallout from these back-to-back storms was by no means limited to those physically located in the Gulf region. Many companies suffered what might be described as secondary losses. While they, themselves, sustained no damage, their supply chains were disrupted. They lost their sources of fuel, raw materials, transportation, and other goods and services because the suppliers of these business necessities were damaged.

The losses and the long-range implications of Katrina and Rita are becoming clearer, although we may be years from seeing the full story. Nonetheless, certain things have become apparent.

In The Impact of Nature: The Aftermath of Hurricanes Katrina and Rita, a wide range of Marsh experts explore how these two hurricanes are likely to affect the U.S. economy and, more specifically, the cost and availability of insurance. This white paper also includes insights on how businesses can cope with both the short- and long-term consequences of Katrina and Rita.

Read this article in its entirety.