Arab Press

بالشعب و للشعب
Friday, Jun 20, 2025

FSC: Insurance payouts from 2017 disasters top $828m

FSC: Insurance payouts from 2017 disasters top $828m

A total of 12,945 insurance claims totalling more than $918 million have been filed relating to the August floods and September hurricanes of 2017, according to a report from the Financial Services Commission. Payouts so far total nearly $829 million, the report stated.

The total claims listed in the report, which only included claims specifically filed for the three disasters, was $918,546,495.91.

Irma represented the vast majority of that amount, at $826,460,864.86. Maria followed at $80,526,892.25 and the August floods at $11,261,556.60.

Of all claims, $828,827,882.20, or around 90 percent of the total, had been paid out as of March 31.

Breaking down all three disasters, the total is 9,539 claims for Irma, 3,034 claims for Maria and 372 claims for the August floods.

The total outstanding liabilities for all the disasters came to $88,424,308.31. This figure includes the amount insurers may owe due to claims that remain open.


Up from last September


A report issued in the third quarter of 2018 showed 12,127 claims filed for the three disasters as of Sept. 30, 2018, which means that 818 additional disaster-related claims have been filed since then.

The amount of payouts has also increased. The September report showed that $694,564,547.82 had been claimed at that time, with $746,032,874.11 paid out. In some instances, the report explained, total paid exceeded the total claims after claims were reopened and reassessed.

That adds up to $223,981,947.59 more in claims and $82,795,008.09 more in payouts between September 2018 and March 2019.

According to the report, more than 90 percent of the claims were closed as of March 31 of this year. Two percent of Irma claims remained open, alongside three percent of Maria claims and five percent of flooding claims. Last September, eight percent of Irma and Maria claims remained open, along with 24 percent of flooding claims.


Breakdowns


The report also included breakdowns of the types of claims for each disaster. In Irma, personal property/homeowner claims represented the most money claims, totalling $394,009,191.26. Commercial property claims were slightly less than that, totalling $348,259,679.20. The rest of the claims fell in the marine and motor vehicle categories, at $57,578,752.29 and $26,613,242.11, respectively.

For Maria, property claims were grouped into one category, totalling $68,555,860.00; motor claims totalled $7,825,254.00, and marine claims totalled $4,145,778.25.



Newsletter

Related Articles

Arab Press
0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Syria to Reconnect to Global Economy After 14 Years of Isolation
Saudi Arabia Faces Uncertainty Over Succession After Mohammed bin Salman
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Majority of French Voters View Macron's Presidency as a Failure
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Businessman Mauled by Lion at Luxury Namibian Lodge
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
Head of Gaza Aid Group Resigns Amid Humanitarian Concerns
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
×