Amid a barrage of hurricanes in 2005 — which still ranks among the most significant years for natural catastrophes in history — one storm stole the spotlight: Hurricane Katrina. Slamming into the U.S. Gulf Coast on August 29 as a Category 3 hurricane, Katrina left devastation in its wake and remains the largest insured loss event in history.
Twenty years later, Hurricane Katrina remains a landmark event. And the past two decades have shown that events like Katrina are not disappearing. If anything, costly catastrophes are an annual occurrence. But along with damage and destruction come opportunities and lessons regarding data and analytics, preparedness and planning, and insurance program management.
Explore our report (opens a new window) for more insights from Lockton that you can use to better prepare for and respond to natural catastrophes.