Weather Risk

The state may have been spared the most horrible loss of life and destruction of property so many had predicted, but its hard to overstate the scale of devastation Irmas fury brought to the power grid and those who depend on it.

Twenty miles may have made a $150 billion difference.

Impacts from Harvey and Irma could increase market losses.

Hurricane Irma hopscotched up Floridas west coast Sunday, making two landfalls and driving a wall of water and winds that submerged Miami, Naples and other major cities.

The storm shifted to Floridas Gulf Coast over the weekend, sparing Miami a direct hit and prompting risk modeler AIR Worldwide to say the maximum cost for insurers on Irma is $40 billion.

A standard homeowners policy covers damage from wind, but damage from hurricane strength winds is a different matter.