Hurricane Ida hits $13.9 billion in Louisiana insurance claims – Reinsurance News

Insurers have paid or will pay $13.9 billion in claims of all kinds related to Hurricane Ida in Louisiana, according to Insurance Commissioner Jim Donnellon.

Policyholders had filed 478,417 claims of all kinds from Hurricane Ida as of September 30, of which 319,855, or 67%, had been paid and were not covered for damage caused by the event. $10.9 billion was paid out.

The updated Ida information was generated from a data call issued by the Louisiana Department of Insurance (LDI) to submit claims data to all licensed property and casualty and surplus line insurers for Hurricane Ida.

LDI notes that this data is the final measure of damage from Hurricane Ida, which hit the state on August 29, 2021, impacting 25 parishes as a Category 4 storm. .

Figures include claims from personal and business insurance, but do not include claims and payments data from the National Flood Insurance Program, as they are not regulated by LDI.

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“Policyholders should know that they have the right to file a supplemental claim if they discover additional damage or if the initial payment becomes insufficient to cover the loss due to increased material costs. Yes,” Donnelon said.

He added that policyholders are welcome to call and file a complaint if they feel their claims have not been properly resolved by their insurer.

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