The president of catastrophe modeling firm, AIR Worldwide has offered a hurricane "doomsday scenario" that would cost $100bn in insured property damage.
Karen M. Clark, president and chief executive officer of AIR Worldwide, said events that could cause $100bn insured property damage include a Category 5 hurricane hitting Miami or a weaker Category 4 hurricane striking the Northeast and impacting New York.
Clark said there is a 1% chance that insurers will face catastrophic losses of $100bn this year.
In contrast, 2005's Hurricane Katrina caused an estimated $38.1bn in insured property damage according to Property Claims Services.
