Hurricane Idalia insurance claims estimated to cost Florida insurers $9.36B after historic landfall
(Worthy News) – Insurance claims in Flordia stemming from Hurricane Idalia, which made historic landfall over the state’s Gulf Coast as a Category 3 storm, are expected to cost billions of dollars, Reuters reports.
In Florida, UBS bank estimated average insured losses of $9.36 billion. These estimates, based on Aug. 28 data, include a 50% chance of losses of over $4.05 billion and a 10% likelihood of losses of $25.6 billion, Reuter stated. The wide range reflected potential changes in the storm’s intensity and path.
A $10 billion price tag for Idalia, once a Category 4 storm, would put the cost outside the top 10 costliest hurricanes to hit the United States.
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