As per the numbers used in the article, the Commish figures the average claim will be around $5700 or so in damages, and that doesn’t take into consideration expenses to handle them, or the fact that a lot of people didn’t file until after Ike so as not to get hit with two deductibles. The storm wasn’t too much smaller then Rita in wind velocity when it hit, so I can’t see the exposure being a lot less then the average claim size from Rita. Also, they need to consider the legal expenses for the lawsuits that will eventually come as I’ve heard Louisiana had a lot of lawsuits from Katrina.
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As per the numbers used in the article, the Commish figures the average claim will be around $5700 or so in damages, and that doesn’t take into consideration expenses to handle them, or the fact that a lot of people didn’t file until after Ike so as not to get hit with two deductibles. The storm wasn’t too much smaller then Rita in wind velocity when it hit, so I can’t see the exposure being a lot less then the average claim size from Rita. Also, they need to consider the legal expenses for the lawsuits that will eventually come as I’ve heard Louisiana had a lot of lawsuits from Katrina.