Insurance Industry Braces for Dorian
Insurers are readying for the impact of Hurricane Dorian, which has already taken several lives and, according to the Red Cross, left at least 13,000 homes damaged or destroyed in the Bahamas.
“If it comes on shore into the United States, depending on where it actually makes its greatest impact — whether it’s the Category 4 that it is now or a Category 2 as it gets into the Carolinas and Virginia — any number of insurance companies throughout the East Coast markets can be affected by it,” Daniel Odess, the president of GlobalPro Recovery, an insurance risk and recovery firm, told Cheddar.
“There’s such a wide range because we’ve had such drastic changes to the insurance markets here in Florida, as well as up through the East Coast.”
