Matthew’s Damages May Reach $10 Billion Overall (FOX News)

Matthew’s Damages May Reach $10 Billion Overall

  Wednesday, October 12th, 2016 Source: FOX News

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.

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