Commissioner of Insurance Robert Wooley says preliminary estimates by one hurricane modeling company suggests insured damages from Hurricane Katrina could reach as high as $19 billion in Louisiana alone.
According to Applied Insurance Research Worldwide Corporation (AIR), total insured losses from Katrina could top $26 billion nationwide. However, Commissioner Wooley cautions that these figures are very early estimates and will be revised as more information becomes available. More than half of these losses are expected to be to residential properties covered by homeowners insurance, according to Wooley.
Commissioner Wooley says consumers with insurance-related questions should call their agent or their insurance company, or the phone number on their insurance policy. If you have trouble reaching your insurance company or agent, contact the Louisiana Department of Insurance statewide at 1-800-259-5300 or 225-342-5900 in Baton Rouge.
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