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Tags: hurricane | matthew | insured losses | corelogic

CoreLogic: Matthew Insured US Property Losses as Much as $6B

CoreLogic: Matthew Insured US Property Losses as Much as $6B

(AP Photo)

Sunday, 09 October 2016 08:06 PM EDT

Insured losses on homes and commercial properties damaged by Hurricane Matthew are likely to be in the billions, but well short of the hefty costs caused by Superstorm Sandy and Hurricane Katrina.

Property data firm CoreLogic estimated Saturday that insured losses on residential and commercial properties will be between $4 billion and $6 billion.

The estimate covers storm surge and wind damage, which CoreLogic anticipates will account for 90 percent of insurance claims related to the hurricane.

Matthew's estimated losses are a fraction of those racked up by Superstorm Sandy, which barreled into the Northeast in 2012, and Hurricane Katrina, which swept through Louisiana and nearby states in 2005.

Sandy's insured property losses reached up to $20 billion, while Katrina's hit as high as $40 billion, according to CoreLogic.

© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Economy
Insured losses on homes and commercial properties damaged by Hurricane Matthew are likely to be in the billions, but well short of the hefty costs caused by Superstorm Sandy and Hurricane Katrina.Property data firm CoreLogic estimated Saturday that insured losses on...
hurricane, matthew, insured losses, corelogic
129
2016-06-09
Sunday, 09 October 2016 08:06 PM
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