Catastrophe modeling company KCC estimates that privately insured losses from Hurricane Melissa will hit $2.4 billion.
This estimate includes insured damages to residential, commercial, and industrial properties in Jamaica and Cuba, according to Boston-based Karen Clark & Co. in its “Flash Estimate – Hurricane Melissa,” issued on November 6.
KCC’s figure for insured damages is at the top end of another estimate – between $2.2 billion and $4.2 billion – provided earlier this week by data analytics firm Verisk.
Cotality, the property intelligence company (formerly known as CoreLogic), also has provided an updated insured property