Hurricane Ida And Business Interruption Claims: The COVID Variant Will Only Magnify Delays And Increase Losses
On the 16th anniversary of Hurricane Katrina, the state of Louisiana faced off against a similarly fearsome enemy as Hurricane Ida made landfall on August 29 as a CAT 4.
With wind speeds up to 150 mph, Ida was the 5th strongest storm to ever make its way to the U.S.
Now, almost one million Louisiana residents are without power and are likely to remain without it for weeks. Those who evacuated prior to the storm are urged to not return for the time being. Search and rescue efforts are ongoing.
Louisiana wasn’t the only state to see massive, storm related damages. At least 43 people in New York, New Jersey, Pennsylvania and Connecticut are due to storm flooding and tornado touchdowns. There is also widespread damage to infrastructure.
As we continue to see the effects of Ida, here are the largest implications for insurance and risk management professionals and what they can expect moving forward.