We’ve chronicled loss estimates from Harvey. Here we’ll do the same for Irma.
As of 6 p.m. 9/13, Karen Clark estimates :
- Total insured loss of $25 billion, being
- $18 billion in the United States, mainly Florida but also Georgia, South Carolina and Alabama.
- $7 billion through the Caribbean.
Business Insurance notes:
Estimates include losses to buildings, other insured structures, contents, business interruption and autos, but do not include crops or losses covered by the National Flood Insurance Program.
As of 2:30 p.m. 9/10, RMS estimates:
- 10 percent chance that wind losses will exceed $60 billion. (This estimate has been falling the past couple of days, as the storm has tracked away from the Miami/Fort Lauderdale/Palm Beach corridor.)
- This doesn’t include:
- Post-event amplification (demand surge), which could add as much as another 15 percent, depending on how the storm plays out.
- Storm surge, which could add another 30 percent.
As of 5 p.m. 9/10, via press release:
- Total US Insured Losses: $20 billion to $40 billion.
- This estimate did not include any mention of insured losses in the Caribbean, which were estimated between $5 billion to $15 billion, according information in a prior AIR release.
- Here at I.I.I., we’ll note that a $20 billion loss would make the storm one of the three worst insured catastrophes in U.S. history, even after accounting for inflation.
As of 3 p.m. 9/9, via CNBC: Total Insured Losses: $20 billion to $65 billion. U.S. Insured Losses $15 billion to $50 billion