$335 Million Lili Damage Estimate

NU Online News Service, Oct. 17, 11:39 a.m. EST?Insurers are expected to pay $335 million to homeowners and businesses for insured-property losses from Hurricane Lili, which struck Louisiana and Mississippi on Oct. 3, according to estimates by the Property Claim Services unit of the Insurance Services Office Inc.

Lili, initially billed as a Category 4 hurricane, was downgraded to a Category 2 storm with wind speeds near 100 miles-per-hour when it made landfall near New Iberia in Southern Louisiana. Heavy rain exacerbated flood conditions that persisted following Tropical Storm Isidore, which had struck Louisiana the previous week.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.