Follow CBSMIAMI.COM: Facebook | Twitter

TALLAHASSEE (CBSMiami/NEWS SERVICE OF FLORIDA) – Insured losses from Hurricane Michael could go as high as $4.5 billion, with the largest amount in residential losses, according to an early estimate by an insurance industry group.

The Property Casualty Insurers Association of America released the estimate, which put potential losses at $2 billion to $4.5 billion.

Residential losses were estimated at $1.5 billion to $3 billion.

GALLERY: THE WRATH OF HURRICANE MICHAEL

The estimates also do not include losses in the National Flood Insurance Program.

Michael made landfall midday Wednesday in the Panhandle community of Mexico Beach. Michael had 155 mph maximum sustained winds, the strongest ever recorded in the region.

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s