Matthew’s Damages May Reach $10 Billion Overall

Wednesday, October 12th, 2016 Auto Property

Hurricane Matthew impaired or destroyed more than 1 million structures, forced businesses from Florida to North Carolina to close and put thousands temporarily out of work. Goldman Sachs estimates the storm probably caused $10 billion in damage overall. Insurance companies will likely be liable for about $4 billion to $6 billion of that total, according to an estimate Saturday by CoreLogic, a real estate data provider. In many affected areas, small-business owners were still assessing the damage, but figures suggest Matthew’s effect on the broader national economy will be minimal.


External References & Further Reading
http://www.foxnews.com/us/2016/10/12/closed-us-restaurants-damaged-homes-matthew-may-cost-10b.html
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