Claims from Hurricane Isaac are beginning to roll in, and the storm is expected to be absorbed by primary insurers with little effect on reinsurers, a ratings agency said.
A spokesman for State Farm, the largest personal-lines insurer in Louisiana, says the company has set up numerous mobile and temporary claims centers in the greater New Orleans and Lake Pontchartrain area to assist agents. Claims representatives have seen 300 residents in LaPlace, La., alone.
The company said it has received more than 16,780 claims in Louisiana and Mississippi, with more than 15,000 coming from Louisiana, primarily property claims and more than 3,500 auto claims.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
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.
