AIR issues new insured loss estimate for Irma

18-09-2017

Hurricane Irma could have inflicted between $32 billion and $50 billion in combined industry insured losses, according to the latest loss estimate from catastrophe modelling firm AIR Worldwide.

AIR said that industry insured losses for the United States resulting from Hurricane Irma could be between range from $25 billion to $35 billion. For the Caribbean, AIR estimates that industry insured losses will range from $7 billion to $15 billion.

Most of Florida was affected by Irma, which tracked the length of the State after making landfall twice, once near the Florida Keys and once near Marco Island, just south of Naples, at Category 4 strength, with maximum sustained winds of 130 mph.

Hurricane-force winds extended 80 miles from the eye, and tropical storm–force winds extended more than 400 miles, covering the entire state and driving storm surge into both the Atlantic and Gulf coasts. After making its first landfall in Barbuda at Category 5 strength on September 6, Hurricane Irma left a trail of destruction in the Caribbean, moving north and west across islands such as St. Kitts and Nevis, Anguilla, St. Martin/St. Maarten, St. Barts, and the British and U.S. Virgin Islands. Irma made a second landfall on Cuba’s northern coast as a Category 5 storm on Friday, September 8. The interaction with Cuba’s northern coast weakened Irma to a Category 3 before a trough of low pressure turned Irma northward on Saturday, September 9.

Irma continued moving north, passing over Naples before weakening to a Category 2. The storm moved inland on Sunday evening, sparing Tampa a direct hit. Overnight, Irma passed west of Orlando, lashing the middle of the state with high winds and torrential rain. Tornado warnings were issued across several central and eastern Florida counties, and at least two tornadoes touched down briefly. Severe flooding and storm surge was reported in many areas.

AIR Worldwide, Hurricane Irma, Catastrophe modelling, Florida, North America

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