One homeowners insurance company in a precarious financial position has billions of dollars in in-force insurance coverage in the state of Louisiana, according to a review of state rate filings.

Two separate rate filings submitted to regulators by Americas Insurance Co. in June shows the company has at least $3.52 billion of insurance coverage within homeowners and dwelling coverages in the Pelican State. Roughly 81% of the total comes from the homeowners business line.

The Category 4 hurricane made initial landfall near Port Fourchon, which is located southeast corner of Louisiana. The bulk of the coverage provided by Americas Insurance, according to the rate filings, is concentrated around New Orleans, a region that experienced Category 3 winds during the worst of the storm.

Americas Insurance disclosed within its third quarter regulatory filings that it is unable to meet all of its claim obligations due to losses stemming from Hurricane Ida. The insurer currently estimates insured losses of between $225 and $230 million from the storm.