Insurers are bracing for a hit of between $28 billion and $47 billion from Hurricane Ian, in what could be the costliest Florida storm since Hurricane Andrew in 1992, according to U.S. property data and analytics company CoreLogic.
Wind losses for residential and commercial properties in Florida are expected to be between $22 billion and $32 billion, while insured storm surge losses are expected to be an additional $6 billion to $15 billion, according to CoreLogic.
More than two million homes and businesses were without power in Florida early on Friday, as Hurricane Ian barreled toward South Carolina leaving behind widespread damage in the Sunshine State."There has been a lot of reported damages to resort properties, hotels. It's likely there's going to be a period where the infrastructure just can't absorb people coming in," Robert O’Brien, managing director with broker Marsh's U.S. property claims practice, said.
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