Univ. of Miami Biz Dean to Newsmax: Ian’s Florida Hit Will Top $47B

Experts are predicting that the damages from Hurricane Ian in Florida could be anywhere from $27 billion to $47 billion, but the actual amount will be “significantly higher,” John Quelch, the dean of the Miami Herbert Business School at the University of Miami tells Newsmax. 

“That estimate is only relevant to the real estate insured losses, the property damage associated with real estate,” Quelch said on Newsmax’s “Wake Up America” Sunday. “The actual number, or the final number, is going to be significantly higher than that because a very large proportion of people did not have flood insurance and those people are going to be facing losses that are simply not included in the $27 billion to $47 billion estimate.”

According to CoreLogic, a U.S. property data and analytics company, insurers are preparing for a multi-billion-dollar hit and say Hurricane Ian could be the most expensive storm since Hurricane Andrew in 1992, reports Reuters.

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