Hurricane Ida could cost insurers almost $18BN
Aljazeera says Hurricane Ida, which swept through Louisiana with some of the strongest winds ever to hit the state, knocking out power to millions of homes and businesses, is estimated to have caused almost $18 billion in damage that’ll be covered by insurers, according to one risk-modeling firm.
Karen Clark & Co. estimates that the bulk of the insured losses occurred in the U.S., with just $40 million of covered damage in the Caribbean. The estimate includes privately insured damage to vehicles, houses and commercial and industrial properties, but does not include boats, offshore properties or National Flood Insurance Program losses.
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