The total economic damage from wildfires in Hawaii may amount from $8 billion to $10 billion, Market Watch reports with reference to preliminary estimates of AccuWeather.
These estimates include both insured and uninsured losses, the company notes.
The fires not only directly affect the region’s residents, their real estate and businesses, but will also have a negative impact on tourism in the future, AccuWeather said in its report.
The company estimates $3 billion to $5 billion in damage from the July floods in the northeastern United States.
Key insurers in Hawaii include State Farm Insurance, Berkshire Hathaway, Tokio Marine, USAA and Allstate Corp. notes Jefferies.
According to the latest figures, 55 people have died as a result of the wildfires in Hawaii.
