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Ike Estimated to be Fourth Costliest Hurricane Ever

Thousands of insurance adjusters are processing claims in areas accessible to them in Texas, Louisiana and other states affected by Hurricane Ike. There are also adjusters gathered at staging areas

By Patrick Stevenson | Updated on September 30, 2008

Thousands of insurance adjusters are processing claims in areas accessible to them in Texas, Louisiana and other states affected by Hurricane Ike. There are also adjusters gathered at staging areas prepared to move into the most seriously damaged communities as soon as civil authorities allow. Insurers are working closely with Federal Emergency Management Agency (FEMA) officials to help adjust flood claims as well, according to the Insurance Information Institute (I.I.I.).

Hurricane Ike struck the Galveston area on September 13 and was the fifth–and third major–hurricane of the 2008 Atlantic hurricane season. It resulted in insured losses estimated at $9.8 billion, according to an analysis of catastrophe modeler estimates by the I.I.I. If these estimates hold, Ike could become the fourth most expensive hurricane in U.S. history. Hurricane Gustav, which struck Louisiana just two weeks earlier, caused $1.8 billion in insured losses in that state, arising from 245,000 claims, according to ISO’s Property Claims Service.

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