Insurers Processing Estimated $1.2 Billion in Hurricane Isaac Claims

Insurance claims from Hurricane Isaac have starting coming in, with one estimate saying losses to insurers could total $1.2 billion. AIR Worldwide, which models losses for insurers, said its best estimate of losses was $1.2 billion. Insurers could have to pay up to $2 billion if it turns out winds were higher and rains produce heavy flooding, but only $700 million if losses turn out to be less. An earlier estimate from EQECAT, another modeling firm, put Isaac’s insured damages onshore in the U.S. as between $500 million and $1.5 billion.