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-- and hurricane damage from wind and flooding along the Gulf Coast may cost the insurance industry.
Up to a billion and a half dollars but -- according to disaster modeling firm -- cat Tom Larsen.
I look at senior vice president and as the nine Fox Business exclusive and top -- you wanna talk to about this kind of how you.
-- value way what these costs are going to be Anderson you got a range of 500 million of one point five billion losses.
On shore property off shore property.
How do you -- -- we're getting breaking news like we just did that another you know -- is is possibly in jeopardy.
Both Sheryl they're two key components to develop a loss -- -- like this.
-- cat we provide a data model that represents the the insured exposures.
For the region we've developed this from census data.
The gives us information about employees and square footage of houses.
And value the valuation information.
We'll look at from -- insurance payrolls the departments of insurance providers the insured coverage or how much what are they expose limits.
That -- client what was called a catastrophe model we look at the wind speeds from this storm and we look at the effects.
As a were from the existing storm the prior storms what are the effects and impacts upon these.
To estimate what is the damage other household by household basis all right every -- unique.
Okay every -- -- got -- -- particular -- I would focus on natural Louisiana here for just a moment all of our eyes of course from New Orleans yesterday others much concern about the levees -- -- hold of the New Orleans area.
Is Louisiana a different animal when it comes to -- -- rating risk.
Absolutely I think it was it was noted earlier New Orleans the teacup.
The holds -- -- area is very sensitive area much of it -- -- -- -- two feet above the wall above.
The storm surge that we saw from this event was exceptional but not extraordinary for a that this type -- storm six to twelve his storm surge.
We -- over thirty feeding Katrina.
It's New Orleans the water can go in very far in the water as we see where the flooding today.
The flooding -- floodwaters are gonna continue to rise -- it's flat.
OK what about the offshore units our correspondent Jeff Flock is down there aren't said that for the most part there seems to be.
Now the most of the BO oil and gas platforms on in the gulf are safe and secure how much time do you think.
That you'll need to assess and it would damage estimate on that particular piece of the offshore properties.
Or -- we currently.
Expect about a half billion and two billion dollars of -- out there.
That seems like a large figure I think it's compared to about ten billion dollars of damage from Katrina is.
That level of damage is it's not operate operational level of damage on a lot of platforms in the gulf.
All right Tom Larson -- very much of course we're gonna keep buying all of this Tom Larsen from -- cut.
For getting us those -- -- the damage on Isaac.
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