Louisiana’s insurers paid more than $23bn for 2020, 2021 hurricanes: III

March 29, 2023

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Pointe-aux-Chenes, Louisiana, USA. 31st Aug, 2021. Floodwaters surround a building after Hurricane Ida slammed into Louisiana. (Credit Image: © Leslie Spurlock/ZUMA Press Wire)

Louisiana’s insurers have paid out more than $23bn for over 800,000 claims after the 2020 and 2021 hurricane seasons, leading to a growing “insurance crisis”, according to the Insurance Information Institute.

The largest property loss events during that period were Hurricane Laura in 2020 and Hurricane Ida in 2021. The two events alone generated insured losses of $9.1bn

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Louisiana’s insurers paid more than $23bn for 2020, 2021 hurricanes: III

Louisiana’s insurers have paid out more than $23bn for over 800,000 claims after the 2020 and 2021 hurricane seasons, leading to a growing “insurance crisis”, according to the Insurance Information Institute.

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Louisiana’s insurers paid more than $23bn for 2020, 2021 hurricanes: III

Louisiana’s insurers have paid out more than $23bn for over 800,000 claims after the 2020 and 2021 hurricane seasons, leading to a growing “insurance crisis”, according to the Insurance Information Institute.

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Uncover exclusive insights tailored for insurance leaders

Topics

Pure reports ‘higher-than-expected underwriting losses’ with 2023 CoR of 102.2%

Munich Re Specialty names McKernan head of property, public entity risk solutions

Carriers quietly cut back in California as promised regulatory reforms lag

Travelers $100mn workers’ comp release offset by post-2019 GL, run-off: CFO

Fleming-James River: A messy resolution that still hurts the legacy segment