Millions of homes, businesses and lives were damaged or destroyed by the pounding inflicted on the US gulf coast by last year’s hurricanes. But much of the financial pain came offshore, where Hurricanes Katrina, Rita and Wilma together hit more than 40 oil rigs and 150 platforms.
Of the total insured damages inflicted in the region, widely reckoned to top $80bn, the energy sector accounted for a good 10 per cent.
