ESG & Investing
Hurricane Ian Will Cost US Insurers $63 Billion, Risk Modeler Says
A boat storage facility damaged following Hurricane Ian in Venice, Florida.
Photographer: Tristan Wheelock/BloombergThis article is for subscribers only.
Hurricane Ian will cost private US insurers $63 billion in claims and will cause the largest storm-related losses in Florida’s history, according to an estimate from a risk-modeling firm.
The forecast includes losses to residential, commercial and industrial properties as well as automobiles, Karen Clark & Co. said Friday in a report. Previous estimates cited by industry analysts put damages around $30 billion to $40 billion.