Idalia has weakened to a tropical storm as it moves into South Carolina and North Carolina on Thursday, after making landfall in Florida as a major hurricane on Wednesday.
Read this Preliminary estimates before Idalia made landfall implied average insured losses of around $9.4 billion, according to analysts at UBS, citing preliminary estimates from RMS, a catastrophe risk modeling firm under Moody’s. It said that should be largely contained within the insurance sector’s expected catastrophe losses for the quarter.
Idalia made landfall at a much more sparsely populated region than Hurricane Ian last year, which suggests there will be significantly lower losses than the $112 billion in damage caused by that storm.Tampa International Airport in Florida said it would resume full operations on Thursday, having avoided any serious damage during the storm.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »