Estimates regarding insured losses, from this article:

The California risk management consulting firm Eqecat Inc. estimated Monday that Hurricane Gustav would generate $6 billion to $10 billion of insurance claims, primarily in Louisiana, after making landfall.

The California insurance consulting firm Risk Management Solutions Inc. issued even lower projections Monday evening of $3 billion to $7 billion in insured losses on land from Gustav.

Meanwhile, the Boston consulting firm AIR was working on downgrading its initial estimates issued Sunday of anticipated losses of $11 billion.

Those figures don't include estimates of flood damage, which is covered separately by the National Flood Insurance Program, or estimates of damage to offshore energy facilities.

Regarding impact on reinsurers, Reuters reported the following:

"Gustav is more of an earnings event for reinsurers," Chris Waterman, a senior director in Fitch's Insurance Group in London told journalists, rather than a catastrophe that knocks a hole in the industry's capital.

"Most reinsurers would plan for this kind of event. It's probably in line with their estimates," said Waterman.