Isidore Wreaks an Estimated $18M in Damages in Louisiana

Tropical Storm Isidore’s swept across Louisiana causing an estimated $18 million in flood damage according to Gov. Mike Foster, who is expected to seek federal aid and disaster declaration for areas of the state. The Associated Press reported that as many as 50,000 Louisiana and Mississippi residents are still without power as a result of the storm.

Although Isidore failed to regain hurricane strength before it crossed Louisiana’s coastline, it packed 65-mile per hour winds, dumped an estimated 15 to 18 inches of rain in southern areas of the state and spawned tornadoes all across the Southeast.

Foster said the state’s sugar cane industry suffered about $3.7 million in damages due to lost crops. The governor expects the damage estimate for the state as a whole to grow.

According to the Florida Association of Insurance Agents, Allstate and State Farm hold the largest share of the policies in the areas affected by Isidore so far. Other major insurers that may be affected by the storm include American International Group Inc.; Travelers Property Casualty Corp.; units of Warren Buffett’s Berkshire Hathaway Inc.; and Progressive Corp.

Topics Louisiana