image credit: Unsplash

Revealed – multi-billion insurance price tag of Ida in one state alone

November 7, 2022

A release from the Louisiana Department of Insurance (LDI) has revealed that insurers have paid or reserved to pay $13.9 billion for any claims related to Hurricane Ida made through September 30, 2022 in the state.

Hurricane Ida struck Louisiana on August 29, 2021 as a Category 4 storm, affecting a total of 25 parishes.

The LDI reported that policyholders have filed 478,417 claims of all types from Hurricane Ida as of September 30. Of those claims, some 319,855 (67%) were closed with payment, equivalent to $10.9 billion in payments for hurricane damage.

Read More on Insurance Business