Insured losses from Hurricane Laura will be close to $ 9 billion, according to Boston-based disaster model Karen Clark & Co. in the Caribbean, the KCC said in a statement Monday.
The estimate does not include potential effects on COVID-19 losses.
Also on Monday, disaster risk modeling company AIR Worldwide said insured losses to land properties from Laura will range from $ 4 billion to $ 8 billion. AIR Worldwide is a unit of Verisk Analytics.
A report published Friday by data and analytics firm CoreLogic estimated insured wind and storm flow losses for residential and commercial properties in Louisiana and Texas due to Laura at $ 8 billion to $ 12 billion. [1
Wind damage was greatest in Louisiana, with reports of some structures destroyed and others with its roofs and facades torn off, raised vehicles and damage to power lines, roads, railroads and other infrastructure.
Laura also landed in Antigua, the Dominican Republic and Cuba.
State Farm Group has a 22.4% share of the Louisiana real estate / claims market, according to AM Best & Co. This is measured by direct premium income and includes commercial perils, homeowners, farm owners, fire and allied lines.
Allstate Insurance Group has the second largest share of 9.5%, followed by Progressive Insurance Group with 5.9% and Liberty Mutual Insurance Cos. by 5.5%, according to the best data.