Harvey, Irma floods cause up to $105bn in damages
Flooding from hurricanes Harvey and Irma resulted in an estimated $69 billion to $105 billion in residential and commercial damage, according to data provider CoreLogic.
Flood damage in Texas from Hurricane Harvey is estimated at $40 billion to $59 billion, of which $25 billion to $37 billion is residential damage and $15 billion to $22 billion is commercial damage.
Approximately 75 percent of the flood damage to residential properties from hurricane Harvey was uninsured.
Flood damage in Florida, Alabama, Georgia, North Carolina and South Carolina from Hurricane Irma is estimated at $29 billion to $46 billion, of which $25 billion to $38 billion is residential damage and $4 billion to $8 billion is commercial damage.
Approximately 80 percent of the flood damage to residential properties from hurricane Irma was uninsured.
Join us at Intelligent Automation in Insurance - London 2018. Book by Jan 31st and you could save £400.
More of today's news
Lloyd’s CFO proposes curtailing broker commission
Aspen CEO ‘deeply disappointed’ with 2017 results
Bermuda targeted in sector consolidation push
Sompo International expands in the London Market
Retrocession rates jump up to 20% in January renewals
Storm Friederike insured losses at up to €2.6bn
