Beautiful Virgin Islands

Tuesday, Jul 15, 2025

FSC: Insurance payouts from 2017 disasters top $828m

FSC: Insurance payouts from 2017 disasters top $828m

A total of 12,945 insurance claims totalling more than $918 million have been filed relating to the August floods and September hurricanes of 2017, according to a report from the Financial Services Commission. Payouts so far total nearly $829 million, the report stated.

The total claims listed in the report, which only included claims specifically filed for the three disasters, was $918,546,495.91.

Irma represented the vast majority of that amount, at $826,460,864.86. Maria followed at $80,526,892.25 and the August floods at $11,261,556.60.

Of all claims, $828,827,882.20, or around 90 percent of the total, had been paid out as of March 31.

Breaking down all three disasters, the total is 9,539 claims for Irma, 3,034 claims for Maria and 372 claims for the August floods.

The total outstanding liabilities for all the disasters came to $88,424,308.31. This figure includes the amount insurers may owe due to claims that remain open.


Up from last September


A report issued in the third quarter of 2018 showed 12,127 claims filed for the three disasters as of Sept. 30, 2018, which means that 818 additional disaster-related claims have been filed since then.

The amount of payouts has also increased. The September report showed that $694,564,547.82 had been claimed at that time, with $746,032,874.11 paid out. In some instances, the report explained, total paid exceeded the total claims after claims were reopened and reassessed.

That adds up to $223,981,947.59 more in claims and $82,795,008.09 more in payouts between September 2018 and March 2019.

According to the report, more than 90 percent of the claims were closed as of March 31 of this year. Two percent of Irma claims remained open, alongside three percent of Maria claims and five percent of flooding claims. Last September, eight percent of Irma and Maria claims remained open, along with 24 percent of flooding claims.


Breakdowns


The report also included breakdowns of the types of claims for each disaster. In Irma, personal property/homeowner claims represented the most money claims, totalling $394,009,191.26. Commercial property claims were slightly less than that, totalling $348,259,679.20. The rest of the claims fell in the marine and motor vehicle categories, at $57,578,752.29 and $26,613,242.11, respectively.

For Maria, property claims were grouped into one category, totalling $68,555,860.00; motor claims totalled $7,825,254.00, and marine claims totalled $4,145,778.25.



Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
President Trump Visits Flood-Ravaged Texas, Praises Community Strength and First Responders
From Mystery to Meltdown, Crisis Within the Trump Administration: Epstein Files Ignite A Deepening Rift at the Highest Levels of Government Reveals Chaos, Leaks, and Growing MAGA Backlash
Trump Slams Putin Over War Death Toll, Teases Major Russia Announcement
Reparations argument crushed
Rainmaker CEO Says Cloud Seeding Paused Before Deadly Texas Floods
A 92-year-old woman, who felt she doesn't belong in a nursing home, escaped the death-camp by climbing a gate nearly 8 ft tall
French Journalist Acquitted in Controversial Case Involving Brigitte Macron
Elon Musk’s xAI Targets $200 Billion Valuation in New Fundraising Round
Kraft Heinz Considers Splitting Off Grocery Division Amid Strategic Review
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
EU Proposes New Tax on Large Companies to Boost Budget
Trump Imposes 35% Tariffs on Canadian Imports Amid Trade Tensions
Junior Doctors in the UK Prepare for Five-Day Strike Over Pay Disputes
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
Bitcoin Reaches New Milestone of $116,000
Biden’s Doctor Pleads the Fifth to Avoid Self-Incrimination on President’s Medical Fitness
Grok Chatbot Faces International Backlash for Antisemitic Content
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
×