Insurance News

Insurers Breathe Sigh of Relief Over Irma


By Liz Carey

Tallahassee, FL ( – With the worst of Hurricane Irma over, insurers are breathing a sigh of relief that damage estimates have spiraled downward since last week. 

According to Financial Times, damage estimates in Florida from modelling firm AIR have been set between $20 and $40 billion, down from an estimated $100 billion during last week’s lead up to the storm.

Hurricane Irma hit Florida over the weekend, striking the Florida Keys first, before heading up the western coast of the state. By Monday mid-morning, the storm had been downgraded to a tropical storm as it headed into Georgia.

More than 6 million people in Florida, and another 300,000 people in Georgia, were without power as of noon on Monday.

According to AIR, properties on the southwest...

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