US AND CARIBBEAN INSURED LOSSES FROM DORIAN TOP $5BN: KCC

Insured losses from Hurricane Dorian in the US are estimated at $1.5bn, according to Karen Clark & Company (KCC), adding to losses in the Caribbean and raising the storm’s total claims to $5.2bn. The Bahamas is expected to account for over half of the insured loss figure at $3.6bn with the US Virgin Islands adding $84m and Puerto Rico $23m. KCC said the US estimate covers wind and storm surge damage to residential and commercial property and vehicles but excludes NFIP losses. In the Caribbean, the estimate includes insured commercial and residential property but excludes vehicles.