Insurance Losses Mount as Hurricane Ida Could Become Top Five Costliest Hurricanes in History
AgDay 09/23/21 - Hurricane Ida Pricetag
Work continues on cleaning up from Hurricane Ida with logistical problems remaining for moving grains through Louisiana's Gulf Coast.
Now, the Wall Street Journal is putting a dollar amount on the damage. The report shows the storm is poised to be one of the top five costliest hurricanes based on insurance losses. Risk Management Solutions is estimating insured losses between $31 billion and $44 billion.
The storm had a long tail, not just hitting Louisiana, but also causing damage in the Northeast as it moved on after making landfall.
Reuters reports the costs are also adding up for grain handlers who tell them Gulf shipping issues are causing the cost for barge freight to rise along rivers in the Midwest.
