Tuesday, January 16, 2018
Business

Early estimates peg Hurricane Irma damage at as much as $65B

The damage totals from Hurricane Irma are still being tallied, but early numbers are in: As of Tuesday, the storm is estimated to have caused between $42.5 billion and $65 billion of damage. That's according to a Tuesday release by Irvine, Calif.-based analytics company CoreLogic.

COMPLETE COVERAGE:Find all our coverage about Hurricane Irma here

Between $13.5 billion and $19 billion of that damage is insured.

Flooding caused between $25 billion to $38 billion of the damage across Alabama, Florida, Georgia, North Carolina and South Carolina. Between $5 billion and $8 billion of residential flood loss was insured.

"An estimated 80 percent of flood damage to residential properties from Hurricane Irma is not covered by any flood insurance," the CoreLogic release said.

Despite the high flood damage, according to the Florida Office of Insurance Regulation, there were just 577 private flood insurance claims in Florida. As of Monday, there were 372,281 claims filed related to Hurricane Irma across the state totalling almost $2.2 billion.

Contact Malena Carollo at [email protected] or (727) 892-2249. Follow @malenacarollo on Twitter.

Comments

US travel industry launches plan to reverse tourism decline

Associated PressNEW YORK — Travel industry representatives sounded an alarm Tuesday over declines in international tourism to the U.S. and announced plans to reverse the trend. Organizers of the new Visit U.S. Coalition portrayed the decline as long-...
Updated: 6 minutes ago
Raymond James advice for small to mid-sized companies about activist shareholders? Prepare and listen

Raymond James advice for small to mid-sized companies about activist shareholders? Prepare and listen

Shareholder fights between activist investors and publicly traded companies are getting nastier, especially in some industries, and a lot of them don’t involve corporate giants like General Motors and Procter & Gamble.In 2015, according to Raymond Ja...
Updated: 2 hours ago
Dow bursts through 26,000 in record seven trading days

Dow bursts through 26,000 in record seven trading days

The Dow Jones industrial average blew past 26,000 Tuesday for the first time ever, coming only a week after hitting 25,000 and showing further evidence that the long-running bull market is alive and well."There are several reasons for markets to melt...
Updated: 2 hours ago
Italian Butterfingers? Nestle selling candy business for $2.9B

Italian Butterfingers? Nestle selling candy business for $2.9B

Associated PressNEW YORK — Swiss food and drink giant Nestle is selling its U.S. candy business to Italy’s Ferrero for about $2.9 billion in cash. Ferrero will take over iconic chocolate brands Butterfinger and Crunch bars, as well as the sugary Ner...
Updated: 3 hours ago
Pinellas is at the center of a rise in Florida flu outbreaks

Pinellas is at the center of a rise in Florida flu outbreaks

By JUSTINE GRIFFINTimes Staff Writer Feeling a little sniffly or scratchy or stuffed up? It may be the flu, and you don’t want to wait around to see a doctor this year. This is not the time to write off flu-like symptoms, Tampa Bay area health offici...
Updated: 3 hours ago
Arizona-based AFI Mortgage opens St. Petersburg branch

Arizona-based AFI Mortgage opens St. Petersburg branch

Times StaffAFI Mortgage, a subsidiary of an Arizona-based bank, is opening its first Florida locations in St. Petersburg and Lakeland. Its parent company, AmeriFirst Financial Inc., specializes in mortgages. "This Florida team is innovative, knowledg...
Updated: 6 hours ago
St. Petersburg’s apartment boom is spreading west

St. Petersburg’s apartment boom is spreading west

By SUSAN TAYLOR MARTINTimes Senior CorrespondentST. PETERSBURG — Still more apartments are coming to St. Petersburg, this time to the Edge and Grand Central Districts just west of downtown.The new projects, all by out-of-state developers, will add mo...
Updated: 6 hours ago
Some fear Spa Beach billowing net sculpture could catch birds and storms

Some fear Spa Beach billowing net sculpture could catch birds and storms

By WAVENEY ANN MOORETimes Staff WriterST. PETERSBURG — International artist Janet Echelman may have fulfilled her $75,000 feasibility contract with the city and previewed her billowing, parasol-inspired sculpture for Spa Beach, but for some, key ques...
Updated: 8 hours ago
Pasco plans industrial site on utility property

Pasco plans industrial site on utility property

DADE CITY – Commissioner Jack Mariano remembers the message from economist William Fruth.Just seven months after Mariano joined the commission in 2004, Fruth, of Palm City, told the county’s elected and appointed officials that Pasco should explore d...
Published: 01/16/18
Help wanted: Seminole Hard Rock in Tampa has 250 jobs to fill

Help wanted: Seminole Hard Rock in Tampa has 250 jobs to fill

TAMPA — Seminole Hard Rock Hotel & Casino is holding a hiring event next week to fill more than 250 positions. The event will take place in the Hard Rock Cafe from 9 a.m. to 1 p.m. Jan. 24. Available positions include culinary, beverage, hotel, spa, ...
Published: 01/16/18