Irma insured damage high, but should be under worst projections
Other estimates have come in as low as
"Mother Nature did us a few favors," Weather Channel senior hurricane specialist
Dollars alone hardly measure the full impact of a storm, of course. The toll in human life includes at least six in
Irma, which remained a Category 5 storm longer than any on record as it approached
"Nearly the entire state of
As it weakened, Irma sustained a forward motion may have helped avoid the accumulation of water and flooding seen two weeks ago in
Nonetheless, Irma and Harvey seem poised to emerge as the costliest combination of storms in one season. On Sunday,
"We estimated that Hurricane Harvey is to be the costliest weather disaster in
The
"Some of the losses will be covered by insurance, some will not, so the losses will be felt in a variety of ways by millions of people," Myers said. "Many millions of people have already been evacuated, so their lives have already been affected and they have incurred costs of one sort or another."
In contrast, AIR said its loss estimates for the
Estimates of losses covered by insurance companies do not necessarily include flood damage covered by the federal government's National Flood Insurance Program, uninsured economic and property losses and government aid payments.
Gov.
Hurricane Katrina in 2005 cost
By comparison, Hurricane Andrew in 1992 cost
Hurricane Sandy in 2012 produced
Storms tend to become more expensive over time not necessarily because they are stronger, but because more people live in their path with more expensive homes, cars and personal property.
Insurers will now begin hearing from their customers. The
"As the effects of Hurricane Irma continue to plague
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