New Orleans braced for Hurricane Gustav

by David Masters

Story link: New Orleans braced for Hurricane Gustav

Insurance companies are bracing themselves for a major hit after the US National Hurricane Centre announced that the centre of Hurricane Gustav will hit New Orleans later today, 3 days after the anniversary of Hurricane Katrina that devastated the city in 2005.

Residents in the city have been ordered to evacuate from their homes.

With maximum sustained wind speeds of 115mph, Gustav is a category 3 hurricane on the Saffir-Simpson scale.

Tidal waters around New Orleans are expected to surge between 10 and 14 feet above normal levels.

Katrina cost insurers $40 billion, making it the largest ever insured event in history. Losses of $10-$30 billion are expected from Gustav.