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WASHINGTON, Sept. 3 (UPI) -- Insurance analysts say claims filed as a result of Hurricane Gustav will be expensive with other costly storms still likely to hit the United States this fall.
Analysts estimate insured damage from Gustav at $2 billion-$10 billion, which is less than expected but doesn't include estimates of flood damage, Robert Hartwig, president of the Insurance Information Institute, told USA Today.
"Insurers exhaled a partial sigh of relief,but it's still going to be an expensive event," Hartwig said. "And we're still looking at more potential landfalls" from Tropical Storms Hanna, Ike and Josephine in the Atlantic and Karina in the Pacific.
Hurricane Katrina in 2005 did $41 billion of damage, including flood damage, USA Today reported, noting if insured losses fall in the middle of analysts' estimates, Gustav would rank among the 10 costliest hurricanes to hit the United States.
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