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Insurers Balk @ Paying 1 Million Katrina Victims

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The Two storms in the USA are estimated to cost Insurers well over $100 Billion (just in immediate claims.)

In perspective 9/11 cost $5 Billion!

Will this upset markets around the world?

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Guest Bart of Darkness
I always thought insurance was exempt from 'forces of nature'. Have I got this wrong.

Good point. Won't the insurers try to wriggle out of their responsibilities by claiming Katrina etc. as an "act of God"?

Or would public sentiment in the US be so outraged at this that they dare not go this route?

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