Louisiana Commissioner: Insurers Have Paid or Reserved $10.5 Billion in Ida Claims

Insurers have paid or reserved $10.5 billion on all types of Hurricane Ida-related claims in Louisiana through the end of 2021, Insurance Commissioner Jim Donelon said in a release Jan. 31.

The Louisiana Department of Insurance generated claims information from a data call issued to all authorized property and casualty insurers, including surplus lines insurers.

“The figures include claims from personal and commercial insurance,” LDI said. “Claims and payment data from the National Flood Insurance Program is not included as it is not regulated by LDI.”

Policyholders have filed 434,633 claims of all types from Hurricane Ida as of December 31, according to LDI, with 83% of claims closed. Of those claims, 259,134, or 60%, were closed with payment, garnering $6.5 billion in payments for damage caused by the hurricane.

LDI said it will continue collecting data from property and casualty insurers to monitor the claims process. The final deadline for data is October 7, 2022.

Source: Louisiana Department of Insurance

Topics Carriers Claims Louisiana