Universal Insurance Expects Up To $450M In Hurricane Irma Losses

 Thursday, October 12, 2017

 Sun Sentinel

Fort Lauderdale-based Universal Insurance Holdings said it expects to pay out between $350 million to $450 million in claims from Hurricane Irma. The company, parent of Universal Property & Casualty, Florida’s largest insurer, said in a news release that it has had about 50,000 claims related to Irma from Florida and other affected states in the Southeast. More than 90 percent of reported claims have been inspected, and nearly 50 percent have been closed, the company said.
Universal Property & Casualty had 595,553 residential and commercial policies in Florida at the end of June, according to data compiled by state insurance regulators.
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