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World Insurance Report

Natural catastrophes

23.9, Hurricane Ike

US: officials from Galveston were set to ask the US Congress for about $2.2bn in disaster relief to repair the battered island’s port, save a major research hospital from going under and rebuild the city’s infrastructure. The estimate of the damage done when Hurricane “Ike” raked the island on Sep 13 was breathtaking. With 57,000 residents, the amount officials are asking for works out to about $36,800 a resident. The mayor of Galveston will appear before the Senate Ad Hoc Subcommittee on Disaster Recovery on and will ask the federal government to foot the bill for $1.1 billion in damage to the city. Galveston officials said the $1.1 billion would go to fix water, sewerage and drainage systems as well as traffic signals, roads and bridges. The city is also asking for money to build housing, give grants to small business owners and restore beaches. The Port of Galveston is seeking $500 million to repair docks, warehouses, fences and parts of the giant bulkhead wall that separates the island from the channel.

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