According to the Congressional Budget Office (CBO) on 6 Sept., the current estimate for private insurance payouts due to Hurricane Katrina is more than $30 billion dollars. This is not counting federal flood insurance and federal crop insurance, both of which will probably exceed currently allocated funding. Private insurance paid $32.5 billion after 9/11. Hurricane Andrew of 1992 cost about $35 billion in insurance. The Northridge earthquake of Los Angeles in 1994 that prompted catastrophe bonds cost somewhere between $15 and $20 billion.