Losses from Tropical Storm Bill Estimated at Almost $22M

Louisiana Insurance Commissioner Robert Wooley announced that new and final estimates by the state’s Department of Insurance show Tropical Storm Bill caused nearly $22 million in insured damages in Louisiana.

Included in that figure are federal flood insurance claims. Bill came ashore southwest of Houma on June 30, 2003.

Wooley said the DOI estimates the following claims have been filed in the state as a result of Tropical Storm Bill:
· 4,902 homeowners claims totaling $9,078,094;
· 2,128 private passenger auto physical damage claims totaling $5,088,589;
· 252 commercial auto physical damage claims totaling $656,652;
· 1,555 commercial property claims totaling $4,476,395;and
· 622 federal flood insurance claims totaling $2,590,575.

“I think we’re fortunate Tropical Storm Bill wasn’t any worse than it was,” Wooley said. “However, hurricane season doesn’t end until November, so people in hurricane-prone areas need to be prepared in case another storm hits.”

Topics Catastrophe Natural Disasters Profit Loss Claims Windstorm