The cost of living with intense storms is prompting some residents of St. John the Baptist Parish to consider leaving this already depopulating area west of New Orleans, which sits near sea level and has taken a pounding in recent years from a succession of floods and major storms.
Tag: Hurricane Ida
TX Insurance Adjuster Gets 20-Year Prison Sentence for Stealing Hurricane Ida Payouts
An insurance adjuster from Texas was sentenced to 20 years in prison for pocketing more than $200,000 in insurance payouts meant for St. Charles Parish residents who filed claims to repair damage to their property following Hurricane Ida.
Total Insured Losses from Hurricanes Laura, Ida at More than $20 Billion
Hurricanes Laura and Ida has resulted in over $20 billion in insurance losses, Louisiana insurance commissioner Jim Donelon said. Speaking with Jan Swift on the Discover Lafayette podcast, Donelon said some insurers in Louisiana have gone bust as a result. Fortunately, the Louisiana Insurance Guaranty Association is in place to protect property and casualty policyholders… Continue reading Total Insured Losses from Hurricanes Laura, Ida at More than $20 Billion
Another Insurer Goes Belly-Up In Louisiana in Wake of Hurricane Ida
Last week, the Louisiana Department of Insurance took over Americas Insurance Company in a court-ordered receivership, making it the third financially troubled insurer in recent months to require rescue. The insurer, based in New Orleans, has approximately 24,000 policies and 13,000 Ida-related claims. It had a 1.31 percent share of the Louisiana homeowners insurance market… Continue reading Another Insurer Goes Belly-Up In Louisiana in Wake of Hurricane Ida
Two Louisiana Insurers Collapse in the Aftermath of Hurricane Ida
Insurance companies in Louisiana will be charged at least $100 million to pay the claims of two failed property insurers that failed in the aftermath of Hurricane Ida. However, the cost of dealing with insolvent insurers will eventually fall on the state after companies recoup the funds through a series of tax credits. The board… Continue reading Two Louisiana Insurers Collapse in the Aftermath of Hurricane Ida
Louisiana Seeks Take-Over of Failing Insurers After Ida
The Louisiana insurance commissioner is seeking a government takeover of two regional insurance companies that are facing insolvency due to losses from Hurricane Ida to ensure the company’s policyholders are paid what they are owed, officials said. The insolvency could cause thousands of Louisiana residents to get kicked off their insurance policies. However, policyholders whose… Continue reading Louisiana Seeks Take-Over of Failing Insurers After Ida
LA Insurance Commissioner Doubles Down as State Farm Refuses to Cover Evacuation Costs from Ida
For the second time in a week, Louisiana Insurance Commissioner Jim Donelon has said he is considering levying fines against insurance companies that continue to refuse to comply with his emergency directive to cover the temporary living expenses of policyholders who evacuated during Hurricane Ida. “What I would do is find that they are not… Continue reading LA Insurance Commissioner Doubles Down as State Farm Refuses to Cover Evacuation Costs from Ida
Hurricane Ida Leaves Residents without Power Amid Punishing Heat
The winds and rain from Hurricane Ida have passed, but the devastation wreaked by the storm weighs on every aspect of life here. Schools are closed indefinitely. Officials say power will be out for up to a month. Cell service is spotty, and hospitals already burdened by Covid-19 are relying on generators and water reserves… Continue reading Hurricane Ida Leaves Residents without Power Amid Punishing Heat
Hurricane Ida Losses Likely Short of Katrina Totals, Could Hit $25B
Preliminary loss estimates from Hurricane Ida approach $25 billion, but should remain well below what the U.S. Gulf Coast saw in August 2005 when it was devastated by Hurricane Katrina. While Ida is expected to generate significant economic and insured losses in Louisiana, it is “unlikely to trigger ratings downgrades of individual property and casualty… Continue reading Hurricane Ida Losses Likely Short of Katrina Totals, Could Hit $25B
Hurricane Ida Batters Louisiana, Leaving New Orleans Without Power
Ida made landfall near New Orleans at midday on Sunday as a Category 4 hurricane, bringing pounding rain, catastrophic winds and dangerous sea surges in the fiercest storm to batter the city since Hurricane Katrina 16 years ago. Hurricane Ida intensified early Sunday with sustained winds of 150 miles an hour after crossing the warmest… Continue reading Hurricane Ida Batters Louisiana, Leaving New Orleans Without Power