Hurricane Wilma may cost insurers in the US between $6bn and $10bn, according to catastrophe modeling firm Risk Management Solutions.
When Wilma made landfall, the storm was larger and more intense than forecast, RMS said. It added that due to the high density of property in Miami, even a low level of damage across the area could drive up insured losses.
The firm said it based its estimate on the direction and speed of Wilma's winds and the potential onshore damage, coastal storm surge and business interruption caused by the storm.
It also said that the estimate included increased costs for materials and services needed for repairs, so-called demand surge.
