Hurricane Zeta May Cost Insurers $4.3 Billion

Insurers are bracing for a hit.
Hurricane Zeta May Cost Insurers $4.3 Billion
November 3, 2020

Karen Clark & Co. (KCC) says insurers are bracing for a hit of about $4.3 billion from Hurricane Zeta in the United States. At least six people were killed in the Southeast and more than 2 million people were without power on Oct. 29 after Hurricane Zeta slammed into the Gulf Coast and moved northeast. Overall, nine U.S. states were hit by Hurricane Zeta, with the highest losses in Louisiana, Mississippi, and Georgia, KCC said, adding that 2020 had been a record year for named storms that made a landfall.

The loss forecast includes damage to residential, commercial, and industrial properties as well as automobiles. KCC also estimated an $80 million hit to insurers in Mexico from the hurricane.

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