Disaster-Related Hotel Business Loss Recovery – Unique Challenges

Mark Earle | October 18, 2018

By Mark Earle Hurricanes Michael and Florence are both gone, but the extent of their destruction is now coming into clearer focus. Michael-caused losses in property and income are estimated to be $15 to $21 billion, according to Moody's Analytics. Boston-based insurer Karen Clark & Company (KCC) released an estimate of $3.7 billion for storm surge alone. KCC's catastrophe models estimate that Hurricane Michael caused about $8 billion in privately insured losses, which do not include losses covered by the National Flood Insurance Program. While Michael was the fourth-strongest storm to hit the U.S. since record-keeping began 1951, it...