Ida could hit $30bn loss mark, Louisiana’s ‘largest insured loss event’ to date: Donelon
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Ida could hit $30bn loss mark, Louisiana’s ‘largest insured loss event’ to date: Donelon

Jim Donelon insurance commissioner.jpg

Louisiana Insurance Commissioner Jim Donelon said that losses from Hurricane Ida could reach $30bn, positioning the storm to become “the largest loss event” in Louisiana’s history, exceeding losses from the deadly Hurricane Katrina in 2005.

In an interview with Inside P&C, Donelon noted that industry cat modelers predicted that losses from Ida could end up between $15bn and $40bn, “and I am seeing that all indications are that will be the case”, he said.

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