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Florida sees first Hurricane Matthew claims roll in; Heritage revises loss estimates down

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Florida sees first Hurricane Matthew claims roll in; Heritage revises loss estimates down

Florida's state insurance regulator has received nearly5,000 claims related to HurricaneMatthew.

Based on filings received as of early morning on Oct. 10, a totalof 4,973 claims have been submitted with estimated insured losses of $21million. Homeowners claims accounted for 3,916 of those submissions. Claimssubmitted so far have been mostly concentrated in Volusia, Brevard and Duvalcounties.

The Florida Office of Insurance Regulation noted in astatement that those numbers will increase in the coming weeks as displacedFloridians assess damage and start their claims processes.

HeritageInsurance Holdings Inc. said separately that its latest modeledloss guidance is "considerably below" its of $500 million.Chairman and CEO Bruce Lucas said in a statement that the insurer now expectsestimated losses from Hurricane Matthew to come in at less than $100 million,of which the company will retain $40 million.