The Observer: Insurers face $40bn claims after Katrina
“Last week Shell increased prices for unleaded petrol from 90.6p a litre to 93.2p, while diesel prices went from 94.5p to 96.1p. A spokeswoman said that the Anglo-Dutch company, which has made record profits from the soaring crude price this year, has made losses in every quarter on petrol sales.”:
Sunday September 4, 2005
Huge premium hike for British firms · Petrol price to hit £1 a litre this week
Richard Wachman and Oliver Morgan
BRITISH and American insurance industries face claims topping $40 billion following the devastation in the wake of Hurricane Katrina.
The figure, leaked to The Observer by sources within the Lloyds of London insurance market, is similar to the hit taken by companies following the terrorist attacks in September 2001. As a consequence, businesses face huge hikes in insurance premiums.