It looks as if the damage caused by Ike will be massive. One of the areas that we need to be aware of now is the burden that this will place on the Insurance industry.
Like the banking sector - the insurance sector will have to be liquidating its reserves and, like the banking sector's capital base will be stretched thin.
There will be only a finite number of large storms like Ike coming ashore in highly populated areas that both the communities and the financial system can cope with. We may get through this one - but how many more 2? 3? I bet not many more than that.
