Katrina's bill: $10 billion to $25 billion

NEW YORK, Aug. 30 (UPI) -- Damage estimates from Hurricane Katrina's romp through the southern United States range from $10 billion to $25 billion.

Fitch Ratings said Katrina has probably caused the largest financial loss from a single event since Sept. 11, 2001, the Washington Post reported Tuesday. Two hurricane modeling firms released preliminary but similar estimates of the insured losses from Katrina, ranging from $10 billion to $25 billion, Fitch said.

Despite the huge estimates, which must be confirmed in coming weeks by on-site examiners, primary insurers are not expected to be financially devastated because they have spread their risks among reinsurance companies.