Acting Louisiana Insurance Commissioner Robert Wooley said Hurricane Lili caused at least $170 million in insured losses according to preliminary estimates.
The New Orleans Times-Picayune reports that Wooley predicted the number would likely increase as more claims come in. Estimated losses include damages to home, automobile and businesses.
Wooley lowered the estimate of losses from Tropical Storm Isidore to the $65 million to $70 million range. That figure is down from a previously estimated figure of $100 million.
The heaviest losses from Hurricane Lili appear to be in the Lafayette-New Iberia area, which sustained widespread damage from the Category 2 storm.
Topics Louisiana
Was this article valuable?
Here are more articles you may enjoy.
Opportunity for Private Flood Insurers With Threat of Another NFIP Lapse 
Married Insurance Brokers Indicted for Allegedly Running $750K Fraud Scheme 
Beazley Agrees to Zurich’s Sweetened £8 Billion Takeover Bid 
AIG, Chubb Can’t Use ‘Bump-Up’ Provision in D&O Policy to Avoid Coverage 
