As the 200mph gusts lashing the Louisiana coast subsided on Tuesday, oil companies operating in the Gulf of Mexico were left counting the cost of the latest major big hurricane to pass through torment the region.

The four hurricanes that struck there Gulf last year resulted in around $28bn of damage across all sectors, according to Aon, the US insurance company. Insurance Premiums climbed for anyone operating in the hurricane-prone area – and, following the damage wrought this week by Hurricane Katrina, industry experts now expect it will those to rise further. “It will certainly harden the resolve of underwriters to look for premium increases for the Gulf of Mexico business,” says Tim Fillingham, who heads up the of energy practice at insurance company Aon’s UK arm.