A recent report by financial website Kiplinger rated Louisiana as the most disaster prone state in the nation. News reports on this story have cited loss estimates of $3 billion for Hurricane Katrina and $2 billion for Hurricane Gustav.
According to Property Claim Services estimates, Hurricane Katrina actually resulted in more than $25.4 billion in insured losses and Hurricane Gustav caused $2 billion in insured losses. These estimates do not include flood losses.
“Louisiana has historically been significantly impacted by natural disasters,” said Insurance Commissioner Jim Donelon. “While we are not surprised by this national report, it serves as a reminder of the importance of being adequately prepared and insured as we enter the peak of hurricane season next month.”
Source: Louisiana Department of Insurance
Topics Catastrophe Natural Disasters Profit Loss Louisiana Hurricane
Was this article valuable?
Here are more articles you may enjoy.
Florida Supreme Court Approves Board Certification in Insurance Law 
NYC Restaurants Shut Off Air Conditioning, Close on Sundays as Costs Surge 
Banking Watchdogs Ramp Up AI Scrutiny as Stability Fears Mount, Sources Say 
Kroger Plans to Slash 37% of Corporate Jobs in Next Three Years 
