Four hours after Hurricane Andrew made landfall near Homestead, Fla. in 1992, catastrophe modeler AIR issued a statement that the insured losses could exceed $13 billion in Florida. Actual losses equaled $15 billion.

Five days after Hurricane Irma made landfall near Cudjoe Key, Fla., AIR estimated the losses in the U.S. would be $25-$35 billion (revised from an earlier range of $20-$40 billion). PCS has recently pegged the U.S. loss much lower (exact figure available directly from PCS), and as of this writing in early October, the Florida insurance department has tallied just $4.6 billion in estimated insured losses....

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