A Year Later: La. Issues Updated Hurricane Katrina Insurance Figures

The Louisiana Department of Insurance has issued an updated statewide estimate of reported claims and insured losses paid-to-date (information as of July 31, 2006) for damage caused by Hurricane Katrina in Louisiana. This information does not include losses paid by the National Flood Insurance Program. Claims and dollar amounts are estimates.

–Losses paid-to-date: $14,552,324,751 (more than $14.5 billion)
–Reported claim count: 716,864
–Number of parishes with Katrina-related insurance claims filed: All 64 parishes
–Parish with most claims: Jefferson Parish – 218,939 claims costing $4.4 billion
–Parish with costliest claims: Orleans Parish – 179,123 claims costing $5.1 billion
–Parish with fewest claims: Caldwell and Claiborne tied with 24 claims each costing $168,000 and $176,000 respectively
–Line of business with most claims filed: homeowners, with 57.6 percent of all claims filed – 413,052 claims filed, costing $5.8 billion
–Line of business with highest payment per claim: $85,169 per Commercial Multi-Peril claim
–Number of parishes with more than 10,000 claims: 12

The 12 parishes with more than 10,000 claims are: East Baton Rouge, Jefferson, Lafourche, Orleans, Plaquemines, St. Bernard, St. Charles, St. John the Baptist, St. Tammany, Tangipahoa, Terrebonne and Washington.

Source: Louisiana Department of Insurance