Hurricane Zeta Damage May Cost Insurers as Much as $4.4 Billion
(Bloomberg) -- Hurricane Zeta, which tore through the U.S. South last month, may have cost insurers as much as $4.4 billion, according to tallies from risk-modeling firms.
Insured losses were mostly from wind and storm-surge damage in the U.S. and the rest caused by wind losses in Mexico, according to a report Monday from Karen Clark & Co. AIR Worldwide said insured damage could be $1.5 billion to $3.5 billion, the Verisk Analytics Inc. business said in a statement.
The storm, which made landfall in the U.S. near Cocodrie, Louisiana, affected nine U.S. states. The biggest losses were in Louisiana, Mississippi and Georgia, according to KCC. Zeta also caused widespread power outages, which has affected voting in some states.
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