The insured loss estimate for onshore property, including personal, commercial and industrial, including time element, is expected to be between $500 million to $1.5 billion, according to EQECAT's Insured Exposure Data (IED) and EQECAT's North Atlantic Hurricane Model. Economic losses to offshore energy assets, including platforms, pipelines and shut-in production, are expected to range from $500 million to $1 billion.
According to EQECAT, Isaac is a much weaker storm than Katrina was. A more useful benchmark is 2008’s Hurricane Gustav and 1988’s Hurricane Florence, which followed similar paths, but differed in wind intensities. At landfall, Gustav was a Category 2 storm and Florence was a Category 1. Insured losses in 2012 dollars would be $2.5 billion; losses from Florence would be less than $500 Million.
According to EQECAT, Hurricane Isaac touched the Mississippi River delta at 6:45 pm CDT, then drifted west, over water. At 2:15 a.m. CDT, the center made landfall west of Port Fourchon on Louisiana's southeast coast.
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