1. $26.5 Billion Is Still a Lot of Money
At $26.5 billion in reported damage and $15.5 billion in insured losses, Hurricane Andrew was the most costly hurricane on record when it occurred in 1992. Today, it ranks as the third-most-costly hurricane, behind Hurricane Ike, a category 2 storm that in 2008 caused $29.5 billion in damage, and Hurricane Katrina, which wreaked a still mind-boggling $108 billion in damage when it hit the Gulf Coast in 2005.
Source: The Weather Channel
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio