80% Of Louisiana 2020 Hurricane Season Claims Are Closed

Insurers have paid or reserved $7.7 billion on claims in Louisiana through the end of 2020 from hurricanes Laura, Delta, and Zeta.

Insurance Commissioner Jim Donelon said claims from Katrina in Louisiana alone were $24.3 billion the costliest for the state, followed by Rita at $3.3 billion, but now Rita has been eclipsed in insurance costs.

‘But Laura now represents the second-largest hurricane loss event in our state’s history with some $6.6 billion been having been paid and reserved for Laura losses,’ said Donelon.

Donelon said of the three major storms that hit the state in 2020 policyholders filed 291,000 claims and insurers consider 80-percent of those claims closed.

Of those claims about half were not paid, Donelon said it’s because many policies require a two to five percent named storm deductible of the insured value of your property.