Claims In Louisiana Equal 25 Years Of State’s Homeowners Premiums

According the Insurance Information Institute (I.I.I.), the record total of homeowners insurance claim payments resulting from the 2005 hurricanes in Louisiana is enough to wipe out all homeowners premiums paid in the state during the past 25 years, as well as every dollar of homeowners insurance profits ever earned there. Homeowners insurers in Louisiana are expected to pay $12.4 billion in claims from Hurricanes Katrina and Rita, an amount equal to all homeowners insurance premiums paid in the state since 1981 and nearly 13 times the estimated $969 million in homeowners premiums paid last year.