FOR IMMEDIATE RELEASE
Press Contact: Scott Croft, 703-461-2864,
Date: October 12, 2005

HURRICANE KATRINA'S DAMAGE TO RECREATIONAL BOATS
ESTIMATED AT $650-$750 MILLION

Boat Owners Association of The United States, the nation's leading
organization for recreational boaters, estimates that damage to
recreational vessels as a result of Hurricane Katrina is between $650
to $750 million. Of that amount only about half, or $300 to $400
million in damage, was covered by insurance.

Katrina's losses far surpass last year's four hurricane total of about
$330 million in damages as well as the $500 million in losses
attributed to 1992's Hurricane Andrew - which until now was believed to
be the single most costly natural catastrophe to effect recreational
boating. Hurricane Katrina also destroyed an estimated 75% of the
marinas along 150 miles of the Gulf Coast.

The BoatU.S. Marine Insurance Catastrophe Response Team is working in
all three affected states of Alabama, Mississippi and Louisiana.
Carroll Robertson, senior vice president of Claims for BoatU.S. Marine
Insurance, says that she expects claims activity to subside in Alabama
and Mississippi in the next few weeks as boats are located, surveyed
and processed for repairs or salvage. "However, there is still a lot of
work to do in Louisiana," said Robertson, who adds that the sheer size
and severity of destruction in the state, in addition to evacuations
and security restrictions, have slowed recovery efforts.

Boat owners insured with BoatU.S. Marine Insurance should call
800-937-1937 to report a loss or damage to their vessel or go to
http://www.BoatUS.com/insurance/claims.htm

On the heels of Katrina, Hurricane Rita wreaked havoc on coastal areas
of eastern Texas and the Louisiana bayou on Sept. 24, and figures for
boat losses attributed to this storm aren't expected for a few more
weeks.

Boat Owners Association of The United States is the nation's leading
advocate for recreational boaters providing its 620,000 members with a
wide array of consumer services including a group-rate marine insurance
program that insures nearly a quarter million boats; the largest fleet
of more than 500 towing assistance vessels; discounts on fuel, slips,
and repairs at over 825 Cooperating Marinas; boat financing; and a
subscription to BoatU.S. Magazine, the most widely read boating
publication in the U.S.