Irma Could Cost $125 Billion in Damage in U.S.

The video discusses Lloyd's insurance market's catastrophe scenarios for Florida, highlighting potential industry losses from hurricanes. It compares historical hurricanes like Andrew and Katrina, adjusting for inflation, and examines the challenges faced by Florida's insurance industry due to increased development and population. The video also explores the impact of storms on insurance claims, particularly the difference between wind and flood damage coverage.

What are the estimated industry losses for Florida in the catastrophe scenarios used by Lloyd's insurance market?

• $27 billion and $8 billion

• $131 billion and $134 billion

• $100 billion and $150 billion

• $50 billion and $75 billion

How does the population growth in Florida affect the insurance industry?

• It has no effect on the insurance industry

• It decreases the insured values

• It increases the insured values

• It stabilizes the insurance market

What is a significant difference between the losses in Florida and Texas?

• Florida has more wind damage

• Texas has more wind damage

• Texas has more population growth

• Florida experiences more flood damage

Which type of storm is likely to cause more wind damage in Florida?

• Category 2 storm

• Category 4 or 5 storm

• Category 3 storm

• Category 1 storm

What role do insurers and reinsurers play in Florida's insurance market?

• They focus on flood insurance

• They do not cover commercial properties

• They offer protection against wind damage

• They only cover residential properties