Northbrook, Ill. — Although Gustav may not be carrying the same punch as Katrina a few years ago, if the catastrophe modeling companies’ loss estimates are correct, insurers have reason to send their claims teams down to the Gulf Coast area.

Although feared to hit landfall as a Category 4 storm with winds up to 155 mph., by the time Gustav made landfall yesterday near Cocodrie, La., it was downgraded to a Category 2 tropical storm with winds as high as 110 mph. As it plodded across northern Louisiana and east Texas, the storm dumped an estimated eight inches of rain and triggered flash floods, leaving more than 1 million homes without power due to fallen limbs and power lines.

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