Commissioner of Insurance Robert Wooley says preliminaryestimates by one hurricane modeling company suggests insureddamages from Hurricane Katrina could reach as high as $19 billionin Louisiana alone.
According to Applied Insurance Research Worldwide Corporation(AIR), total insured losses from Katrina could top $26 billionnationwide. However, Commissioner Wooley cautions that thesefigures are very early estimates and will be revised as moreinformation becomes available. More than half of these losses areexpected to be to residential properties covered by homeownersinsurance, according to Wooley.
Commissioner Wooley says consumers with insurance-relatedquestions should call their agent or their insurance company, orthe phone number on their insurance policy. If you have troublereaching your insurance company or agent, contact the LouisianaDepartment of Insurance statewide at 1-800-259-5300 or 225-342-5900in Baton Rouge.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 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.
