Here are the insurers who will face the biggest hit from Harvey

//Here are the insurers who will face the biggest hit from Harvey

Here are the insurers who will face the biggest hit from Harvey

Here are the insurers who will face the biggest hit from Harvey

Morgan Stanley believes that major insurers operating in Texas could stand to lose billions of dollars to claims made following Hurricane Harvey – with State Farm and Allstate to take the bulk of the hit. The bank said that if media reports on the hurricane’s damage – ranging between $30 billion and $40 billion – are correct, then Harvey would rank as the fourth worst storm in US history, when adjusted for inflation.

The bank said that if media reports on the hurricane’s damage – ranging between $30 billion and $40 billion – are correct, then Harvey would rank as the fourth worst storm in US history, when adjusted for inflation.

Although Harvey brought strong winds to Texas, it was the severe, flood-causing rainfall that caused the most damages, Morgan Stanley observed. “Early estimates on wind losses from RMS are in the low single digit $billions. Flooding has been extensive and could cause more insured losses than wind,” the bank said in its release.

2017-11-06T21:47:42+00:00

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