The Financial Toll of Two Major Hurricanes

By Michelle Seiler-Tucker

Within the span of 2 weeks, U.S. shores have been hit by 2 major hurricanes. Harvey which hit Texas and Southwest Louisiana in late August, and Irma making its way through the Florida coast. With the devastation left in their path, the question now is what is the financial toll on the U.S. after 2 major disasters? The toll for Harvey’s destruction is estimated to be anywhere between $70 and $90 billion, with only $35 billion protected by insurance, by RMS a disaster modeling firm. Analysts have predicted that Irma’s financial toll can reach up to $172 billion in the U.S. alone. Countries in the Caribbean are expected to see cost of up to $65 million from Irma alone. [more...]