Insurers expect $400 million in losses from Hurricane Matthew
Posted On: Oct. 18, 2016 5:00 AM CST
Insurers expect an estimated $400 million in insured losses from Hurricane Matthew, Tribune 242 reported. Anton Saunders, managing director at Bahamas-based property/casualty insurer RoyalStar Assurance Ltd., said that the insurer had received just 60% of expected claims. "So far, we have recorded about 700 claims between Nassau and Freeport," said Mr. Saunders, adding that "we expect that number to be at least 1,000-1,200, so there's about 40% more to come".