Irma insurance losses top $7 billion

The 400-mile-wide Hurricane Irma pummels Florida from the Keys and up the Atlantic coast with winds up to 130 mph.
The 400-mile-wide Hurricane Irma pummels Florida from the Keys and up the Atlantic coast with winds up to 130 mph. (NOAA-NASA GOES Project via Getty Images)

TALLAHASSEE, Fla. – Estimated insurance losses from Hurricane Irma have reached $7.2 billion, as more than 877,000 claims have been filed since the September storm, according to information released Monday by the state Office of Insurance Regulation.

More than 83 percent of the claims involve residential property, with most in South Florida.

Irma, which has been linked to 84 deaths in Florida, made landfalls Sept. 10 in Monroe and Collier counties before barreling up the state, creating evacuation problems and widespread damage in the agriculture industry.

The insurance figures are expected to continue to increase over the next year as claims continue to trickle in.

In numbers released Dec. 18 by the office, insured losses were estimated at $6.55 billion. Since that time 11,869 new claims had been submitted as of Friday afternoon.

Just over half the overall 877,843 claims have been closed with some payment.  Another 32 percent were closed without money changing hands.

The state doesn’t release figures for individual companies.

Meanwhile, state-backed Citizens Property Insurance had received 64,682 claims from Irma as of Monday. Most were in Miami-Dade, Broward and Monroe counties. Just over half have been closed with some payment, Citizens spokesman Michael Peltier said.