Hurricane Ida could be Louisiana’s most expensive hurricane in the state’s history, said Insurance Commissioner Jim Donelon in a Tuesday interview with WWNO/WRKF.
"The projections are that there will be between $20 and $40 billion paid by insurers for wind losses as a result of Hurricane Ida,” Donelon said on Louisiana Considered.
That figure only accounts for private insurers. It doesn’t include claims paid by FEMA’s flood insurance program or economic damages.
"If it goes over $23 billion, it'll be the costliest hurricane in the state's history, and the likelihood is that will happen based on the expert analysis of the damage,” he continued.
Donelon said that the first insurance provider payout reports for damages from Hurricane Ida won’t be available until the end of 2021.
"A final data report is due (this week) on 2020 hurricane losses from Laura, Delta and Zeta,” he said, “which resulted in more than $10 billion being paid, $8.6 (billion) for Laura in the Lake Charles area.”
Lake Charles has yet to receive federal aid for long-term relief, and officials said the aid they’ve been promised isn’t enough.
“Laura was clearly the second-largest loss event in the state's history, and Ida will surely exceed that,” Donelon said.
For the full interview, click the player above.
