‘$20 billion to 65 billion’: Irma to hammer insurance

(CNBC) — Hurricane Irma will create combined insured losses of between $20 billion and $65 billion, according to a projection from risk modeling software company AIR Worldwide.

The company includes in its estimate both the United States and selected islands in the Caribbean. For the U.S. alone, insured losses are expected to reach between $15 billion to $50 billion, AIR notes.

Although the final costs of Hurricane Harvey are still being tallied, the more powerful Irma has brought Florida to a standstill and is likely to pack a financial wallop along with its human toll.

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