16 January 2019Insurance

Hurricane Michael insured losses reach $5bn

The total estimated insured losses from hurricane Michael have reached $5.02 billion, according to the Florida Office of Insurance Regulation.

Hurricane Michael made landfall as a Category 4 hurricane along the Florida Panhandle coast on Oct. 10, 2018.

Michael has been described as the strongest tropical cyclone on record to strike the Florida Panhandle and the fourth strongest hurricane to make landfall on the US mainland.

So far, 141,039 claims have been filed and 72.6 percent of claims have been closed, according to the Florida regulator, which aggregates information compiled from claims data filed by insurers.

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More on this story

Insurance
8 November 2018   Hurricane Michael killed 45 people in the US, as it became the strongest tropical cyclone on record to strike the Florida Panhandle and the fourth strongest hurricane to make landfall on the US mainland, according to Aon’s Impact Forecasting team’s latest edition of its monthly Global Catastrophe Recap report.
Insurance
15 October 2018   Insured residential and commercial storm surge and wind losses from hurricane Michael are estimated at between $3 billion and $5 billion, according to an update by data provider CoreLogic.