Catastrophe modelers expect insured losses from Hurricane Ida to reach between $18 to $29.5 billion. (Photo: ssguy/Shutterstock)
The North American hurricane season is well underway, which means insurers are hard at work managing customer policies and processing claims. After last year's record-breaking season, insurance companies must be prepared for the impending tsunami of claims and the corresponding deluge of paperwork. And this year, there's been no shortage of damage and devastation. Hurricane Ida recently left more than 1 million homes and businesses throughout Louisiana and Mississippi without power for weeks. For insurers, this is a different type of calamity, especially with homeowners and businesses needing to cash in on multiple policies related to tropical storms.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
