Louisiana Insurers Have Paid $13.1 Billion on Ida Claims

Louisiana insurers have paid or reserved to pay $13.1 billion on Hurricane Ida claims through June 30, 2022, the state’s department of insurance announced this week.

Policyholders have filed 460,709 claims of all types from Hurricane Ida as of the end of June, according to the Louisiana Department of Insurance (LDI). Of those claims, 299,440, or 65%, were closed with payment, garnering $9.8 billion in payments for damage caused by the hurricane.

LDI previously announced $12.1 billion had been paid or reserved to pay through the end of March 2022.

“If inflation or the discovery of previously unknown damage caused the cost of your repair to increase since you received the initial payment from your insurance company, you have the right to file a supplemental claim,” said Commissioner Jim Donelon. “I encourage any policyholder having problems getting their insurer to pay a claim to call us at 800-259-5300 and file a complaint.”

Residential property represents 359,548, or 78%, of all Ida claims, according to LDI’s claims data. Paid losses for residential property were $6,217,684,225 through the end of June.

Another $2,685,260,642 in paid losses have gone to commercial property claims. 88% of residential property claims were closed through June 30 compared to only 71% of commercial property.

Jefferson Parish reported the highest number of claims (105,135), followed by Orleans (78,115), Terrebonne (44,701) and St. Tammany (41,845).

Insurers have until October 7 to submit Ida-related claims data.