analysts predict Hurricane Harvey could cost Lloyd’s of London insurers £ 100 billion

[dominatrixjane]

analysts predict Hurricane Harvey could cost Lloyd’s of London insurers £ 100 billion pounds

 

[Hypoxia]

analysts predict Hurricane Harvey could cost Lloyd’s of London insurers £ 100 billion pounds

They'll pass on their losses to reinsurers. This report estimates total Harvey costs at around US$100 billion but with only $20-30 billion of that insured. The rest must be covered by taxpayers. Ouch.

Typically, all commercial and industrial properties are insured against storm damage. Residences aren't -- maybe 80% of Houston's lost homes had no flood coverage. Money to rebuild homes and neighborhoods won't come from Lloyds.