With more than 1 million claims filed, estimates of insured losses in Florida from last year’s Hurricane Irma have surpassed $11.08 billion, according to the state Office of Insurance Regulation.
Even as claims have slowed more than a year after the massive and deadly September 2017 storm, insurers recorded an additional $600 million in estimated losses through more than 5,500 new claims over the past three months.
In all, 1,002,821 claims had been filed from Irma. The numbers posted Thursday might be the final update from the office, which said future data calls “may” be announced for the storm that has drawn claims from all 67 counties.
The state agency doesn’t release data by individual insurance companies, asserting protection of trade secrets. The numbers also don’t include most agriculture losses, which the state has estimated at $2.5 billion, or damage inflicted by the storm on government facilities, including buildings, roads, parks and beaches.
One company that publicly posts numbers, state-backed Citizens Property Insurance, has reported $1.81 billion in losses from Hurricane Irma through an estimated 70,800 claims.
By comparison, Hurricane Michael, which hit the Panhandle a little more than a month ago, had produced 3,189 claims as of Wednesday by Citizens’ policyholders, which the company estimated will result in $142 million in paid losses and expenses.
Overall, Michael had drawn 119,160 claims worth an estimated $2.94 billion in insured losses as of last Friday, according to the Office of Insurance Regulation.
Among the Irma filings, insurance companies had closed 93 percent of all residential claims and 76 percent of commercial-property claims.
Of the 838,109 residential claims filed, 522,493 had been settled with some payment and 256,605 resulted in no money changing hands. Insurance officials have noted the amounts of damages often fail to reach policyholders’ hurricane deductibles.
Across the state, the top counties for damage claims were Miami-Dade with 128,661, Collier with 95,273, Broward with 84,042, Lee with 84,032 and Orange with 75,003.
Irma made landfall twice in Florida on Sept. 10, 2017. It first hit Cudjoe Key, less than 30 miles northeast of Key West, and later hit Collier County before running up the peninsula.
Outside of South Florida, more than 90 percent of Irma claims have been closed.
In Miami-Dade County, 18 percent of claims remain open, while 13.2 percent remain unsettled in Broward.
Monroe County, which includes the Keys, had seen 30,896 claims, of which 59 percent led to insurance payments. In Monroe, 7.5 percent of claims remained open.
Republished with permission of the News Service of Florida.