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Florida's insured losses from Irma total nearly $2 billion to date
September 18, 2017 / 5:29 PM / a month ago

Florida's insured losses from Irma total nearly $2 billion to date

(Reuters) - Florida policyholders so far have filed nearly $2 billion in claims to insurers for damage from Hurricane Irma, the state’s insurance regulator said on Monday.

A roofer works on attaching a blue tarp to a roof following Hurricane Irma in Ramrod Key, Florida, U.S., September 18, 2017. REUTERS/Carlo Allegri

The estimate of insured losses is based on preliminary statewide data that insurers filed with the Florida Office of Insurance Regulation as of 4 p.m. ET on Sunday for nearly 335,347 claims, the regulator said. (bit.ly/2xKwMi9)

About 88 percent of the total number of claims are from residential property owners, of which only 3.8 percent have been closed, the filing said.

Of the claims, commercial property comprised 3 percent, while private flood insurance made up 0.2 percent.

Irma was ranked as one of the most powerful Atlantic storms on record before striking the U.S. mainland as a Category 4 hurricane on Sept. 10. The storm killed at least 33 in Florida. (reut.rs/2xcfrLy)

Shares of Florida-based insurers Heritage Insurance (HRTG.N) and Universal Insurance (UVE.N) fell 3.4 percent and 3.8 percent, respectively.

HCI Inc’s (HCI.N) shares dropped 2.2 percent, while Federated National (FNHC.O) fell 2.6 percent and United Insurance (UIHC.O) edged 1.7 percent lower.

Reporting by Suzanne Barlyn in New York and Roopal Verma in Bengaluru; Editing by Lisa Von Ahn and Maju Samuel

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