Hurricane Michael's Price Tag Could Reach $25 Billion
- Storm brought the fourth-strongest winds to U.S. mainland
- U.S. flood-insurance programs could see $3 billion bill
This article is for subscribers only.
Hurricane Michael will probably end up causing at least $25 billion in economic losses.
About $3 billion of that will fall on the federal flood insurance program and private insurers may get hit with $9 billion to $10 billion in claims, according to Chuck Watson, a disaster modeler with Enki Research in Savannah, Georgia. About half the damage probably won’t be covered by insurance.