Introduction

Amid a barrage of hurricanes in 2005 — which still ranks among the most significant years for natural catastrophes in history — one storm stole the spotlight: Hurricane Katrina. Slamming into the U.S. Gulf Coast on August 29 as a Category 3 hurricane, Katrina left devastation in its wake and remains the largest insured loss event in history.

Twenty years later, Hurricane Katrina remains a landmark event.

Along with those from subsequent major disasters, its lessons still echo throughout the insurance industry. While significant strides have been made over the past two decades, Katrina remains a powerful reminder to both insurers and policyholders of the critical need to anticipate, model, and prepare for future catastrophes.

© 2025 Lockton Companies. All rights reserved.