Some of the findings:
- Private-sector insurers paid out more than $41 billion on 1.7 million auto-, home- and business insurance claims, making Katrina "the costliest disaster in the history of the global insurance industry."
- The federal government's National Flood Insurance Program paid out an additional $16.1 billion in claims, "a dollar amount higher than what the NFIP paid to all of its claimants combined between 1968 and 2004."
- And private-sector insurers paid between $2 billion and $3 billion in Katrina-related offshore energy facility claims.
"Ultimately, insurers won virtually every major case that was filed against them post-Katrina, establishing or reaffirming important legal precedent in each instance."
To read the full III report, click here.