Ida’s insurance impact is likely to be boosted by pandemic pricing (yahoo.com)
Insurers are bracing for $15 billion to $30 billion in claims from Hurricane Ida, but the figure could jump higher, in part because of pandemic pricing that has pushed up the cost of lumber and labor to rebuild, insurance experts said on Monday.
The widely ranging estimates, based on models that track the storm’s severity and path, are still likely to be less than the $87 billion in claims from Hurricane Katrina, when adjusted for inflation, experts said.