Florida claims data point to $10.3bn Hurricane Ian insured loss

Total estimated insured losses in Florida from Hurricane Ian could point to a $10.27 billion sum, the Florida insurance regulatory office OIR said of its survey of carrier claims data through November 22.

A total of 640,496 claims had fallen into insurer hands through November 22, of which 70% came on various forms of residential policies. Homeowners is the single largest chunk of that pile at 55% of total claims, of which 52.3% have been closed.

Of the 336,376 claims noted as having been closed, 36% were closed without payment, the data indicated. Of the 185,069 homeowner claims closed to date, 47% were closed without payment.

Insurers are required by law to have started submitting data beginning September 30, 2022, and the tally covers all claims based on filings received by the regulator though November 22. Additional data calls may be conducted, OIR said. The regulatory office required insurers to report estimated and paid losses.

Commercial property accounts for 4.1% of the total claims count. Only 22% of that tally has been closed.

Of the remaining lines, private flood coverage accounts for only 3436 claims and business interruption accounts for 432 claims.

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