/cloudfront-us-east-1.images.arcpublishing.com/tbt/IVNWU34DPOUYH5QXKCYN7BVRZM.jpg "A home which came off its blocks sits partially submerged in a canal, in Horseshoe Beach on Friday, two days after the passage of Hurricane Idalia.")
Saying the insurance industry “dodged a bullet,” a reinsurance firm Thursday estimated that Hurricane Idalia caused $3 billion to $5 billion in insured losses.
The firm, BMS, pointed to Idalia making landfall Wednesday in the Keaton Beach area of rural Taylor County before moving through other sparsely populated areas of North Florida.
“In reality, the insurance industry dodged a bullet as Idalia tracked over relatively rural areas with low population density,” an analysis posted on the BMS website said.
The update did not break down potential insured losses in Florida and other states.
After moving through North Florida, Idalia went into Georgia and South Carolina. While Idalia did not go through heavily populated areas, BMS said it showed potential far-reaching effects of future storms.
“The tidal flooding all the way down to Bradenton, FL reveals that the impacts from named storms can be far-reaching beyond the destructive center of the storm and the cone of uncertainty,” the analysis said. “This should be a warning call for what will happen when a major hurricane strikes the Tampa Bay area.”
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Tampa Bay Times hurricane coverage 2023
What to do if your house floods from Hurricane Idalia
Hurricane floodwater can be dangerous. Here’s why you should stay out of it.
Hurricane season 2023: Here’s what to know about forecast tracks.
Storm surge is deadly. We built a computer model to show how.
How to protect your pets — and yourself — during a hurricane.
Checklists for building all kinds of storm kits
Protect your data and documents using your phone
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