US and Caribbean insurance companies face a potential $145bn bill following hurricanes

The financial toll of the three hurricanes that hit the US and the Caribbean in the past few months could reach as much as $145bn in insured losses, according to estimations by different catastrophe modelling companies.

The latest storm was Hurricane Maria, which made landfall on September 20 and has been called the worst storm to hit Puerto Rico in almost 90 years. The storm also hit Dominica with heavy rains and winds of up to 175mph, reaching category five – the highest on the Saffir-Simpson scale, which is used to measure the potential damage of hurricanes.

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