The insured loss to onshore properties from Hurricane Laura will be close to $9 billion, according to an estimate by catastrophe modeling company Karen Clark & Co.
The estimate includes losses of $8.7 billion in the U.S. from wind and storm surge and $200 million in the Caribbean.
The estimate includes the privately insured wind and storm surge damage to residential, commercial and industrial properties and automobiles. It does not include National Flood Insurance Program losses or losses to offshore assets, or any potential impacts on losses due to COVID-19.
Hurricane Laura made multiple Caribbean landfalls in Antigua, the Dominican Republic and Cuba as a tropical storm, before impacting Louisiana as a Category 4 hurricane on Aug. 27.