Hurricane Ida may cause $18 billion in insured losses, industry experts say ...News

The damage caused by powerful storm surges triggered by Hurricane Ida is expected to amount to about $18 billion in insurance payments in the US and the Caribbean, according to catastrophe modeling company Karen Clark & Co. The figure is close to the lower end of early calculations revealed by insurance experts while the cyclone was still roaring earlier this week, and represents the first estimate from one of the majors in the risk-modeling sector. According to the firm, some $40 million worth of the insured loss would be in the Caribbean and the rest from wind and storm surge losses in the United States. A

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