Friday, September 02, 2005

Katrina to Cost 20 Billion

Just as Switzerland is cleaning up their severe floods, Swiss Reinsurer who is the number two player in the Insurance business says claims for Hurricane Katrina will cost about $500 million...

Since there was severe flooding after the storm, there is definitely a degree of uncertainty that will loom in the clean up process. The price of insurance really does come into use when a catastrophe like Katrina hits.

Katrina has hit more than just Americans. The Swiss foreign ministry said there were at least 600 registered expats who might have been affected by the storm.

What goes around comes around...

There was an overwhelming number of people who came to aid at the US embassy in Bern for the floods in Switzerland. Let's hope this is the same for the Swiss embassies in the US. Katrina is a sad national dissaster that won't be out of the spotlight for some time.

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