$8B hur­ri­cane claims es­ti­mate

The News-Times - - BUSINESS -

Hur­ri­cane Michael could cost in­sur­ance car­ri­ers as much as $8 bil­lion in claims, ac­cord­ing to ini­tial mod­el­ing by the Bos­ton­based catas­tro­phe risk con­sul­tancy Karen Clark & Co., with the fig­ure not in­clud­ing claims to the Na­tional Flood In­sur­ance Pro­gram un­der­writ­ten by the fed­eral gov­ern­ment. Michael made land­fall Wednesday in Florida and as of Fri­day had been blamed for more than a dozen deaths, while knock­ing out power to nearly 1.3 mil­lion cus­tomers in seven states.

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