Insurance providers are preparing for a hit of about $18 billion from Hurricane Ida in the US and the Caribbean, catastrophe modeling company Karen Clark and Co (KCC) said on Wednesday.
KCC said $40 million worth of the insured misfortune will be in the Caribbean and the rest from wind and storm surge misfortunes in the US.
Hurricane Ida made landfall in the US on Sunday as a Category 4 hurricane, subsequent to clearing shoreward from the Gulf of Mexico, flooding wide regions under weighty surf and heavy rains.
The figure includes secretly guaranteed damage to private, business, and industrial properties and cars and does exclude boats, offshore properties or misfortunes that go under the U.S. National Flood Insurance Program (NFIP).
