Michael insured losses estimated at $8bn
Saturday, 10 13 2018, Category: Nature, Country: World
Insured losses from Hurricane Michael will be close to $8 billion, according to catastrophe modelling agency Karen Clark & Company (KCC).
This estimate includes the privately insured wind and storm surge damage to residential, commercial, and industrial properties and automobiles.
Hurricane Michael made landfall near Mexico Beach, Florida, with strong category 4 wind speeds on October 10. Michael reached peak intensity of 155 mph.
Source: Intelligent Insurer