Due to the State of Emergency declared on August 12, 2016 by Governor John Bel Edwards in response to the historic flooding in parts of Louisiana, and the inability of many insurance policy holders to repair their property within normal time frames because of a shortage of building materials, contractors, and construction workers, the Commissioner of Insurance has promulgated Emergency Rule 28, which retroactively suspends statutory provisions of the Insurance Code concerning cancellations, terminations, nonrenewals, and nonreinstatements of insurance policies due to a material change in the insured risk, and also gives insureds additional to comply with other policy provisions.

The emergency rule applies to all lines of insurance and all regulated entities.

On Friday, September 9, 2016, Louisiana Economic Development (LED) issued a flood damages assessment estimating that the historic August 2016 flood caused Louisiana businesses $2 billion in damages.

At peak, LED estimates that 278,500 Louisiana residents were unable to work due to temporary closures, suspension of operations, transportation impasses, and residential flooding.

LED commissioned the study to evaluate federal appropriations needed from Congress. The assessment calculated that approximately 20,000 Louisiana businesses were interrupted by the flood, which began August 11.

The federal government has been authorized to cover a larger percentage of the costs for repairing damage to public infrastructure caused by the recent flooding in South Louisiana.

According to a letter dated September 8, 2016, from President Obama to Louisiana Governor John Bel Edwards, the federal cost share for public assistance projects has been increased to 90% of eligible costs.

Read the president’s letter (PDF).

A recent article from HousingWire examines the impact of the 2016 Louisiana floods on the housing market of the city of Baton Rouge and surrounding areas.

The article notes that prior to the flooding, the supply of available housing in Louisiana’s capital city was already low.

Now, after thousands have been displaced from their homes due to the unexpected flooding, that market is experiencing even more demand. The market is not only being swamped by home buyers, but also renters, all seeking temporary refuge from home displacement.

Read the full article here.

Greater Baton Rouge Business Report has published four articles relevant to businesses after the Louisiana floods:

  • Preserving Your Brand After a Disaster is Critical
  • Landlords Have Obligations After the Flood
  • IRS Offers Resources for Reconstructing Lost Financial Records, Documenting Claims
  • The Latest Resources for Businesses

New resources available for Louisiana parishes affected by the flood:

Looking to help out? Here are some ways to send aid to victims of Louisiana floods: