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posted on Sept. 26, 2005
Hurricane Rita Estimated to Cost the Insurance Industry Between $2.5 Billion and $5 Billion
Catastrophe risk modeling company AIR Worldwide Corporation estimates Hurricane Rita will result in insured losses between $2.5 billion and $5 billion. Rita made landfall between Sabine Pass and Johnson's Bayou on the Louisiana coast at 2:30 CST on Saturday as a Category 3 hurricane. At landfall Rita had maximum sustained winds of 120 mph.
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