Insurer that stands to lose the most from Hurricane Harvey revealed

When the waters recede, damages from Hurricane Harvey, which struck the Texas coast this weekend, will be extensive.

They’ll also be extremely costly for insurers. Morgan Stanley is already beginning to think about total insurance claims.

“Early estimates on wind losses from RMS are in the low single digit $billions. Flooding has been extensive and could cause more insured losses than wind,” the bank said in a note published Monday morning.

Source: Insurer that stands to lose the most from Hurricane Harvey revealed

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