Hurricane Matthew insurance losses may not be as bad as expected

October 10, 2016October 7, 2016 Julie Campbell

Early predictions estimated that insured costs could reach $25 billion to $30 billion from the storm. Early industry estimates had suggested that Hurricane Matthew insurance losses may be the second highest the country has ever seen. This storm represented the first direct hit the United States has experienced from a hurricane in over ten years. It is still too early to know the total cost of the damage it caused. Estimates had said it could be as high as $25 billion to $30 billion. This would make the storm the…

Hurricane Matthew damage won’t be too much for insurance companies

October 6, 2016October 5, 2016 Julie Campbell

Hurricane Matthew national flood insurance program

Insurers have said they’re prepared for claims payments regardless of what the storm brings. The Hurricane Matthew damage that may be left behind by the storm may be the first time certain insurers will need to face a catastrophe aftermath. Other insurance companies are highly experienced and are braced for what could be the result of the storm. That said, at the moment, all insurers are saying that they are ready for what Hurricane Matthew has in store. For some, this will be the first time they will need to…