September 21, 2017 (Source: FIU) - A team of researchers headed by FIU College of Business professor Shahid Hamid, using the Florida Public Hurricane Loss Model, estimates that Hurricane Irma caused $19.4 billion in wind-related losses to Florida residents alone. The data doesn’t cover flood losses.
Of that total, $6.3 billion will be paid by insurance companies. As a result, roughly two-thirds of the losses will be borne by homeowners. The highest wind losses are in Lee County (Fort Myers and Cape Coral), followed by Collier County (Naples, Marco Island and Immokalee).
Hamid’s team includes specialists in meteorology, storm surge, hydrology, engineering, finance and actuarial science, computer science and statistics from FIU as well as the University of Florida, Florida State University, Florida Institute of Technology, University of Miami and the National Oceanic and Atmospheric Administration
