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Hurricane Ian is expected to cause $20-40 billion of property damage in Florida
Posted on September 30, 2022 |
- The huge storm ripping through parts of Florida at 150 mph is likely to cause $20 billion to $40 billion worth of damages and economic losses.
- More than 1 million single-family and multifamily homes along the Florida gulf coast with a reconstruction cost value (RCV) of $258.3 billion are at risk of storm surge damage.
- There is a high probability of a significant storm surge, which will be upsetting for insurers and reinsurers as the Tampa Bay area is home to many low-lying properties on its coast.
Image: The World Property Journal