An early update on Hurricane Lili’s impact on Louisiana suggests that losses with be in the billions. An alert from AIR Worldwide Corp. suggests that wind damage from the category 2 hurricane alone could reach US$600 million. The AIR tropical cyclone team had originally predicted losses of US$2 billion, but fortunately Lili weakened in force before making landfall south of Lafayett, Louisiana Thursday morning. Originally Lili was a category 4 hurricane that ravaged Mexico earlier in the week.Another factor contributing to lower losses is Lili’s location the storm touched down in a sparsely populated stretch of coast near Marsh Island, in the western part of Vermillion Bay.The storm is expected to weaken as it heads further inland, but AIR cautions that a worsening of the hurricane, or a change in direction, could lead to a higher loss tally. The estimate also does not include flood losses.
Former Definity adjuster disciplined for $102K embezzlement scheme
Quebec’s P&C insurance regulator has found a former insurance adjuster guilty of an embezzlement scheme, in which he faked client claims and siphoned more than $100,000 in claims payments from Definity into his own bank accounts. The Chambre de l’assurance de dommages (ChAD) says the former Definity adjuster, Tresor Luyeye, committed 13 Code of Conduct […]
By David Gambrill | September 20, 2024
3 min read