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Insured losses from Hurricane Michael near $5B, says Fla. regulator

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Insured losses from Hurricane Michael near $5B, says Fla. regulator

Total estimated insured losses from Hurricane Michael have climbed to about $4.89 billion, according to the Florida Office of Insurance Regulation.

The hurricane generated 136,873 claims as of Jan. 4. Of the total number of claims, 39,575 are still open, 81,614 have been paid and closed, and 15,684 have been closed but have not been paid yet.

The hurricane made landfall in the Florida panhandle Oct. 10, 2018, as a Category 4 hurricane.