Hurricane Ida insured loss estimate nears $18 billion in the U.S.

The Category 4 storm caused significant structural damage and flooding in Louisiana, Mississippi, and Alabama.

New Orleans Firefighters assess damages as they look through debris after a building collapsed from the effects of Hurricane Ida, Monday, Aug. 30, 2021, in New Orleans, La. (Photo: Eric Gay/AP)

Early estimates from Karen Clark & Company (KCC) indicate that insured losses from Hurricane Ida will be near $18 billion in the U.S. and $40 million in the Caribbean, not including privately insured damage to residential, commercial and industrial properties, offshore properties, autos, boats or NFIP losses.

Ida made two landfalls on its course: first hitting Cuba on August 27 with maximum sustained winds of 80 mph and then making landfall as a Category 4 storm near Port Fourchon, La., on August 29 with maximum sustained winds of 150 mph. The timing of Ida’s impact on Louisiana landed on the 16th anniversary of Hurricane Katrina, the costliest storm in U.S. history.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

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.

Already have an account? Sign In Now

Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

More from this author

Dig Deeper

Recommended Stories

Some high-risk commercial properties facing triple-digit rate increases

Steve Hallo | March 23, 2023

Commercial properties with poor loss histories and those located in CAT-prone areas could see rates grow as much as 150%, according to Alera Group.

How statistics can help small businesses plan for the future

Judy Woods Mullis | March 23, 2023

With 99% of all companies in the U.S. identified as small businesses, they play an important role in job creation and good information helps with long-range planning for these entities.

'Taking by deception' covered by crime policy for Texas tax firm

Adolfo Pesquera | March 23, 2023

The appeals court remanded the case to a Dallas County district court to consider what other alleged losses resulted "directly from" Weaver's theft.

Resource Center

This report reviews the challenges and opportunities impacting the property/casualty insurance industry, and 12 insurance industry trends in 2023 that will drive the ability to provide a frictionless customer experience.

Report

Sponsored by One Inc

12 Insurance Industry Trends in 2023

This report reviews the challenges and opportunities impacting the property/casualty insurance industry, and 12 insurance industry trends in 2023 that will drive the ability to provide a frictionless customer experience.

Browse More Resources ›

This eBook delves into the value of conversational AI to insurance carriers as part of their digital transformation strategy, and decomposes conversational AI into its key components, types and how to get started.

eBook

Sponsored by Ushur

The Smart Guide to Conversational AI for Insurers

This eBook delves into the value of conversational AI to insurance carriers as part of their digital transformation strategy, and decomposes conversational AI into its key components, types and how to get started.

Browse More Resources ›

Cost, technology or both keep many insurers from capitalizing on the most effective data for policy pricing and claim validation. Download this white paper and learn how arming your company with the right data can help reduce risk, improve service & increase sales.

White Paper

Sponsored by Melissa

Hazard Data Enhancements Reduce Risk & Improve Service

Cost, technology or both keep many insurers from capitalizing on the most effective data for policy pricing and claim validation. Download this white paper and learn how arming your company with the right data can help reduce risk, improve service & increase sales.

Browse More Resources ›

PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now

Copyright © 2023 ALM Global, LLC. All Rights Reserved.