Matthew May Cost Insurers as Much as $8.8 Billion, AIR Says
- Reinsurers say it’s yet too early to estimate their claims
- U.S. insured losses seen at $2.2 billion to $6.8 billion
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Hurricane Matthew, which devastated parts of the Caribbean before battering the U.S. East Coast, may cost insurers as much as $8.8 billion, according to AIR Worldwide.
Insured losses range from $2.2 billion to $6.8 billion for the U.S. and from $600 million to $2 billion for the Caribbean, the catastrophe-modeling firm estimates