+Hartwig, Robert P. & Claire Wilkinson, Insurance Information Institute, Hurrican Katrina: The Five Year Anniversary (July 2010)
"Hurricane Katrina was the costliest hurricane, as well as one of the deadliest, in U.S. history. The storm formed over the Bahamas on August 23, 2005 and crossed southern Florida soon thereafter as a Category 1 hurricane before strengthening rapidly in the Gulf of Mexico. Katrina made its second U.S. landfall as a Category 3 storm on the morning of August 29, 2005 in southeast Louisiana. Between 1,300 and 1,500 people lost their lives as a result of Hurricane Katrina.
"Five years later, Hurricane Katrina remains the largest single loss event in the history of the global insurance industry, causing an estimated $41.1 billion in insured damage ($45.1 billion in 2009 dollars) and 1.7 million claims across six states. Louisiana and Mississippi were the hardest-hit states.
"This number does not include $16.1 billion in losses from flooding insured by the national flood insurance program (nfip), or the $2 billion to $3 billion of insured damages to offshore energy facilities.
"Damage from Hurricane Katrina shattered the previous record for a natural catastrophe event set in 1992, when Hurricane Andrew caused $15.5 billion in insured losses at the time it occurred ($22.2 billion in 2009 dollars), with 790,000 claims in three states."—Introduction.
+Lindsay, Bruce R., Analyst in Emergency Management Policy, Congressional Research Service (CRS), The SBA Disaster Loan Program: Overview and Possible Issues for Congress (CRS Report, Order Code R41309) (June 29, 2010)
"Through its Disaster Loan Program, the Small Business Administration (SBA) has been a maor source of assistance for the restoration of commerce and households in areas stricken by natural and human-caused disasters since the agency's creation in 1953. SBA offers direct loans to businesses to help repair, rebuild, and recover from economic losses after a disaster, but approximately 80% of the agency's approved direct disaster loans are made to individuals and households (renters and property owners) to help repair and replace homes and personal property."
+United States Government Accountability Office (GAO), Hurricanes Katrina and Rita: Federally Funded Programs Have Helped to Address the Needs of Gulf Coast Small Businesses, but Agency Data on Subcontracting Are Incomplete (Report to the Committee on Small Business and Entrepreneurship, U.S. Senate, GAO-10-723) (July 2010) (PDF — 2.14M)
"Hurricanes Katrina and Rita wreaked havoc on small businesses in the Gulf Coast, and much federal assistance has been provided to help these businesses. GAO was asked to describe (1) the amount of assistance provided to Gulf Coast small businesses through the Small Business Administration’s (SBA) disaster and Gulf Opportunity (GO) loans, state-administered business assistance programs funded by the Department of Housing and Urban Development’s (HUD) Community Development Block Grants (CDBG), and the Economic Development Administration’s (EDA) Revolving Loan Fund (RLF) program; (2) the extent to which Gulf Coast small businesses received federal contract funds; and (3) the current state of and improvements in the region’s economy. GAO analyzed data on SBA and EDA loans and states’ use of supplemental CDBG appropriations, data on prime and subcontracts awarded for hurricane recovery activities, and economic indicators both before and after the hurricanes."—Why GAO Did This Study.
