Ian Losses to Set Florida Record, Cost Insurers $63 Billion (1)

Hurricane Ian will cost private US insurers $63 billion in claims and will cause the largest storm-related losses in Florida’s history, according to an estimate from a risk-modeling firm.

The forecast includes losses to residential, commercial and industrial properties as well as automobiles, Karen Clark & Co. said Friday in a report. Previous estimates cited by industry analysts put damages around $30 billion to $40 billion.

Ian made landfall Wednesday and tore across Florida, bringing with it powerful gales and a wall of water that inundated parts of the state. It pummeled South Carolina Friday with violent wind and ...