Sep
10

Florence Could Cost Insurers Up to $20 Billion in Early Forecast

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Here’s some grim back-of-the-envelope math for insurers: Hurricane Florence may wreak $15 billion to $20 billion in covered losses from wind and coastal storm-surge, if the past is any guide, according to catastrophe modeler Risk Management Solutions.

That range is based on benchmarking two similar hurricanes from decades past — Hazel in 1954 and Hugo in 1989 — and translating their damage into present-day figures, according to Tom Sabbatelli, an event response manager at RMS. It doesn’t include the potential cost of inland flooding…

Florence Could Cost Insurers Up to $20 Billion in Early Forecast

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