Hurricane Dorian devastation in Bahamas could cost $7 billion: KCC

Damage in the aftermath of Hurricane Dorian on the Great Abaco island town of Marsh Harbour, Bahamas/ REUTERS

(Reuters) — Preliminary estimate of total insured and uninsured losses in the Bahamas from Hurricane Dorian is $7 billion, catastrophe modeling company Karen Clark & Co. said Thursday.

The estimated includes building, contents, and business interruption exposures for commercial, residential and industrial properties, while excluding infrastructure or auto losses, KCC said.

Hurricane Dorian left stretches of the Bahamas looking as if they had been carpet bombed and was regaining strength as it crawled up the U.S. Atlantic coast, possibly making landfall later on Thursday in South Carolina.