HomePress CoverageHurricane Ian will cost US insurers $63 billion: 'The biggest hurricane loss...

Hurricane Ian will cost US insurers $63 billion: ‘The biggest hurricane loss…

After Hurricane Ian hits Florida, North and South Carolina, its remnants are moved there Virginia and West Virginia on Saturday.

The storm hit Florida’s Gulf Coast on Wednesday and on Friday devastated the Georgetown waterfront just north of historic Charleston, South Carolina.

As of early Saturday, nearly 1.3 million people in Florida were without power. At least 23 people were killed in the storm in Florida, according to state officials.

president Joe Biden has approved a disaster declaration, providing federal funding to storm-hit counties. He also declared a state of emergency in North Carolina on Saturday.

Also read: ‘Marry him!’ Video of man rescuing stranded cat in Hurricane Ian goes viral

“We are only just beginning to appreciate the magnitude of this destruction. It will likely be among the worst in the nation’s history,” he said.

Meanwhile, insurers brace for a massive claim involving Ian. This is expected to be the largest storm-related damage in Florida history.

According to a risk modeling firm Karen Clark & ​​Co reportinsured Loss to Hurricane Ian will be near to $63 billion, including $200 million in the Caribbean and the remainder from wind, storm surge and flood damage in the United States

“In nominal dollars, Hurricane Ian will be the deadliest hurricane loss in Florida history,” Karen Clark wrote in his report.

“Total economic damage will be well over $100 billion, including uninsured property, damage to infrastructure and other cleanup and restoration costs.”

Photo: CityStPete on flickr



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