Hurricane Ida Could Cost Insurers as Much as $30 Billion, Swiss Re Says

October 11, 2021
Christian Baumgaertel - Bloomberg

The insurance industry could face claims of as much as $30 billion from hurricane Ida, which caused extreme wind and flood damage across parts of the U.S. after making landfall in late August.

Insured losses from the storm, the second-most intense hurricane to hit the state of Louisiana, will probably range between $28 million and $30 million, the reinsurer said in a statement Tuesday. It estimated its own cost from claims related to the storm at about $750 million.



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