Insurers Have Paid $7.7 Billion in Louisiana on 2020 Hurricane Claims

Insurers have paid $7.7 billion on all types of claims in Louisiana resulting from 2020's Hurricanes Laura, Delta, and Zeta, according to a statement from Insurance Commissioner Jim Donelon.

The data is the first measure of damage from the three hurricanes that struck Louisiana during 2020's record North Atlantic hurricane season.

Policyholders filed 290,847 claims of all types from the 3 storms as of December 31, 2020, the statement said. Of those, 56 percent were closed with payment as of December 31.

"After a record storm season that tested the state multiple times, paid claims represent a way forward for those most affected by these hurricanes," Mr. Donelon said in the statement. "This is $7.7 billion owed to Louisiana policyholders to rebuild their lives, homes, and businesses. Furthermore, it's billions of dollars that didn't come from taxpayers in a time when municipal budgets are reeling from the events of the last year."

The claims figures, generated from a data call by the Louisiana Department of Insurance (LDI) to all authorized property and casualty (P&C) insurers, including surplus lines insurers, include claims from both personal and commercial insurance. They do not include claims or payments from the National Flood Insurance Program.

Hurricane Laura, which struck Louisiana on August 27 as a Category 4 storm, was the costliest of the three hurricanes, responsible for $6.6 billion in paid losses plus reserves on reported claims.

The LDI will continue to collect data from P&C insurers to monitor the claims process. The final deadline for data is October 8.