Insured losses in the United States from Hurricane Irma could total $40 billion, according to one risk forecaster, and though that was less than earlier projections, the elite of the insurance world convening in this sunny resort were reluctant to signal relief.
AIR Worldwide forecast on Monday total insured losses in the United States of between $20 billion and $40 billion. That was down from initial estimates over the weekend of as much as $65 billion.
The reinsurance giant Swiss Re was loathe to provide guidance on the storm's significance for the industry. "It will take weeks before we have a sense of where we are," Swiss Re's chief Christian Mumenthaler said.