Hurricane Ian: estimated insured losses in Florida

hurricane IanOn 28 September 2022, the category 4 hurricane Ian severely hit Florida's west coast. The provisional death toll is at least 107, including 102 in Florida. Millions of residents also found themselves with no electricity.

On Monday 10 October 2022, insurers filed 449 000 claims worth more than 4.2 billion USD broken down as follows:

  • 32 268 claims from residential property owners
  • 12 362 claims from commercial property owners
  • nearly 1 440 claims involving flooding-related damage

According to CoreLogic research center's first estimates, Ian is likely to cost insurers between 28 and 47 billion USD. This would be the costliest storm in Florida since hurricane Andrew in 1992.

Fitch Ratings, on the other hand, is expecting insured losses between 25 and 40 billion USD. For its part, Standard and Poor's believes that insured losses could range between 30 and 40 billion USD.

According to Karen Clark & Company (KCC), hurricane Ian could cost the insurance market as much as 63 billion USD.

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