PAGE 21
LOUISIANAAGENT
COMMISSIONER DONELON UPDATES 2020 HURRICANE DATA THROUGH MARCH 31, 2021 Louisiana Department of Insurance News Release, April 29, 2021 Insurers have increased their estimates of the cost of the three hurricanes that struck Louisiana by 25 percent since the end of last year, Insurance Commissioner Jim Donelon said. Insurance companies now expect to pay $9.6 billion on claims of all types from hurricanes Laura, Delta and Zeta in Louisiana, up from $7.7 billion at the end of last year, according to the latest round of information from insurers quantifying paid and reserved losses through March 31. Policyholders have now filed 311,266 claims of all types from the three storms through the first quarter of this year. Of those, 192,045 claims, or 62%, were closed with payment as of March 31, garnering $6.9 billion in payments for damage caused by the three hurricanes. “This data underscores just how devastating the 2020 storm season was in Louisiana,” Commissioner Donelon said. “The increase in the reserves backs up what I’ve been counseling policyholders about their claims – it isn’t a one-shot deal. If you find additional damage or increased costs after your original claim, you can file supplemental claims until your repairs are complete, as there is no release applicable to first party claims except under unique circumstances.”
Last fall, the Louisiana Department of Insurance (LDI) issued a “data call” requiring all authorized property and casualty insurers, including surplus lines insurers, to submit their claims data on hurricanes Laura, Delta and Zeta in Louisiana at regular intervals until October 2021. The figures represent insurance claims from both personal and commercial insurance. They do not include claims or payments from the National Flood Insurance Program,
