The Institutes

NFIP Claims Paid For Hurricane Ian Rises To $2.2B

 Thursday, January 19, 2023

 Reinsurance News

As of yesterday, the National Flood Insurance Program (NFIP) had paid USD 2.2 billion in claims for Hurricane Ian, which made landfall in Florida as a major Category 4 storm in September 2022, an increase of almost 28% from the figure reported by the US Federal Emergency Management Agency (FEMA) on January 9th, 2023.

All in all, FEMA has now provided USD 896 million to households impacted by Ian, and USD 504 million to the State of Florida for emergency response to the storm.

At the same time, the U.S. Small Business Administration has provided USD 1.47 billion in disaster loans, while the NFIP has now paid USD 2.2 billion in claims to survivors, having received more than 45,800 flood insurance claims, as of January 17th, 2023.

The data from FEMA shows that NFIP claims paid for Hurricane Ian is now rising relatively quickly, up by nearly 28% from the USD 1.72 billion reported on January 9th, which was unchanged from January 3rd, 2023, and December 27th, 2022.
Catastrophe
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