Analysts are estimating that Hurricane Michael has caused billions of dollars of damage and will create a substantial loss for insurers, but the industry is expected to cope — once again avoiding the kind of meltdown that Florida saw in the 1990s, after Hurricane Andrew.
It’s still too early for a full accounting of the financial fallout. And insurance adjusters — like residents, utilities and rescue teams — have grappled with blocked roads and downed communication systems as they try to quantify the extent of the damage.
Carl Nemeth, special investigative unit manager at Tower Hill Insurance, spoke to NPR from the outskirts of Panama City, Fla., over the weekend, explaining that there were still roads that weren’t safe to travel on. That has meant processing insurance claims for properties neither owners nor adjusters could yet access.
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