Hurricane Harvey was supposed to be a “1 in a 1000” year storm, in terms of damage. Well, just a few days later we have another “monster” storm to account for, and according to Barclays’ analyst Jay Gelb, Hurricane Irma’s insured damage in Florida could equal that inflicted by Hurricane Katrina in 2005. Actually scratch that – according to the just released note, Irma’s insured damage in Florida could be the largest ever in the US” with some estimating a repeat of the 1926 Miami
hurricane which could result in $125-130bn of insured damage.