Hurricane Stocks

[curber]

Hurricane Gustav's Insured Damage Losses May Reach $10 Billion

By Erik Holm

Sept. 2 (Bloomberg) -- Hurricane Gustav may trigger insurance claims as high as $10 billion after lashing Louisiana, according to firms that specialize in catastrophe estimates, making it potentially the fourth-highest total for a U.S. storm.

The hurricane lost power as it headed for shore yesterday, keeping insured losses on land between $3 billion and $7 billion and oil-drilling damage at $1 billion to $3 billion, according to estimates from Newark, California-based Risk Management Solutions Inc. That's less than Katrina's record $41.1 billion in 2005.

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