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.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
