Hurricane Katrina—Yet Another Defining Event

Abstract

†Steve Goldberg, FCAS, MAAA, CPCU, Senior Vice President, Actuarial Solutions leads the actuarial and dynamic financial analysis teams for Benfield. He joined the organization in January 2002. Prior to joining Benfield, Goldberg served as Senior Vice President of Underwriting and Pricing and as Chief Actuary for USAA's Property and Casualty business. While at USAA, he led their efforts to acquire reinsurance capacity through direct access to the capital markets andwas involved in the initial formation of the California Earthquake Authority. In addition to his considerable industry expertise, Goldberg is actively involved in the actuarial community. He is a Fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries. Goldberg earned the CPCU designation and received the CPCU National Standard Setter Award in August 2001. He graduated from the State University of New York at Stony Brook and holds an MBA from Temple University. Editor's Note: This paper was sent to Benfield Inc.'s clients on September 15, 2005, a little more than two weeks following Hurricane Katrina's landfall. As a result, some of the information noted here as uncertain is now already known. While most of the information in this paper is still relevant, some of it may be dated when read months or years following the event rather than days following the event. This paper is reprinted with permission from Benfield, Inc.