Disaster modelling company Eqecat has revised its estimate of insured damages from Hurricane Katrina to a high of $US43 billion, with claims from the offshore oil and gas industry starting to seep through.

Predictions of claims for economic and insured damages have been regularly upgraded since the hurricane hit almost a month ago. Insurers expect the bill to continue to rise as residents make their way back to the swampland that was once New Orleans.

Among the companies that face massive payouts from the disaster are AIG ($US1.1 billion), Berkshire Hathaway (3-5% of all Hurricane Katrina insured losses), and St Paul Travelers – the largest insurer of commercial property in the Gulf Coast ($US800 million).