Michael causes estimated $8B in insured losses

National Flood Insurance Program figures not included in estimate

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MEXICO BEACH, Fla. - An insurance company that produces models for catastrophes is estimating Hurricane Michael caused about $8 billion in insured losses.

Boston-based Karen Clark & Company released the estimate Thursday. It includes the privately insured wind and storm surge damage to residential, commercial and industrial properties and automobiles. The figure does not include losses covered by the National Flood Insurance Program.

Michael made landfall as a 155 mph Category 4 storm Wednesday afternoon in Mexico Beach, Florida. The hurricane left a path of destruction through the Florida Panhandle and entered Georgia as a Category 3 storm.

KCC estimates that nearly half of insured loss from Michael occurred in Florida’s Bay and Gulf counties. Total damages from storm surge are estimated to be $3.7 billion, of which about ten percent will be insured.

Hurricane Michael by the numbers

1.2 million: Estimated  homes and businesses without power Thursday

325,000: Estimated number of evacuees 

600: Florida Highway Patrol troopers dispatched to the Panhandle and Big Bend regions

500: Disaster relief workers that the American Red Cross dispatched to Florida. 

6: The states with emergency declarations were Florida, Alabama, Georgia, South Carolina, North Carolina and Virginia.

At least 3: The number of confirmed deaths as of Thursday. 

- A man outside Tallahassee was killed by a falling tree.

- An 11-year-old girl was killed by a carport in Lake Seminole, Georgia 

- A 38-year-old man was killed while he was driving and a tree fell on his car in Statesville, North Carolina.

 

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