Robert Hartwig
Robert Hartwig
chaos complete explosions looking
We're looking at complete chaos in New Orleans, with explosions and uncontrolled fires,
among coverage flood homes katrina lack likely reveal rita shocking threatened together
What Katrina and Rita together are going to reveal is the shocking lack of flood coverage among homeowners, even those very likely to have their homes threatened by flood.
billion money talking
we'd be talking about $4.5 billion as a lot of money - and it is a lot of money.
federal government orleans today
New Orleans is what it is because the federal government made it that way. And what it is today -- underwater.
drawn people price
It's the price of paradise, ... People are drawn to landscapes.
idiot
It makes us all look like idiot savants.
behind company insurance knowing wheel
They can't get behind the wheel once without your insurance company knowing about it.
areas half insurance likely location northern prone rise several
It's all location dependent. In the northern half of the states, it will be minimal. But in areas prone to hurricane-related risks, it's likely that insurance will rise substantially, probably for several years.
billions built easily island run scenarios storm structures york
There are easily storm scenarios in New York that run to tens of billions of dollars. And structures on Long Island aren't as well built as new construction in Florida.
continued insurance price problems relative risk unless
Unless there is some rationalization of the price of insurance relative to the risk assumed, there will be continued problems of availability.
billion country depending far high hurricane insurance katrina losses situation
We are already at about $50 billion of insured losses from catastrophes in this country so far and that could be as high as $70 billion, depending on what Katrina does. Hurricane Wilma is a situation that is going to exacerbate what was already problematic for the insurance industry.
cost
We dodged a bullet. But it's still probably going to cost insurers in the vicinity of $4.5 billion.
cost
We dodged a bullet, ... But it's still probably going to cost insurers in the vicinity of $4.5 billion.
definition fairly water
The definition of 'flood' is fairly ironclad. It's essentially water that comes from below,