Insured losses associated with the wind and coastal flooding from Hurricane Hermine will not exceed $400 million, according to estimates by catastrophe risk management firm RMS.
The figure takes into consideration property damage and business interruption caused by wind and coastal flooding to residential, commercial, industrial properties, and auto lines of business.
Hurricane Hermine hit Florida in early September killing one person, causing severe damage and knocking out power to nearly 300,000 homes and businesses, according to BBC News.
RMS estimates that 60 to 70 percent of the total insured loss is attributed to residential insured losses.
RMS, Insurance, Risk management, Catastrophe, North America