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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 announced today. This data represents the first measure of damage from Hurricane Ida, which struck the state on August 29, 2021, as a Category 4 storm and affected 25 parishes.
Policyholders have filed 434,633 claims of all types from Hurricane Ida as of December 31, 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.
“Louisiana’s resiliency has been thoroughly tested in 2020 and 2021. Paid claims for Hurricane Ida represent a way forward for those most affected by this hurricane,” said Commissioner Donelon. “This $10.5 billion will help Louisiana policyholders rebuild their lives, homes, and businesses.”
The information was generated from a data call issued by the Louisiana Department of Insurance (LDI) to all authorized property and casualty insurers, including surplus lines insurers, to submit their claims data on Hurricane Ida. The figures include claims from personal and commercial insurance. Claims and payment data from the National Flood Insurance Program are not included as it is not regulated by LDI.
The data call figures released today represent the most comprehensive look to date of insured losses in Louisiana from Hurricane Ida. Data for Hurricane Ida through December 31 can be found at http://www.ldi.la.gov/datacallresults. The data is also available for breakdown by parishes.
LDI will continue collecting data from property and casualty insurers to monitor the claims process. The final deadline for data is October 7, 2022.
