Hurricane Matthew has been responsible for 26 deaths in North Carolina and brought widespread flooding to towns such as Lumberton Sean Rayford/Getty ImagesHurricane Matthew could cost insurers as much as $5 billion in claims payouts after the fatal category five cyclone tore across the Western Atlantic and caused devastation to parts of Haiti, Cuba and parts of the southern United States. RMS, a risk modelling specialist, estimated yesterday that insurers could have to fork out between $1.5 billion and $5 billion to cover claims after Hurricane Matthew hit earlier this month. RMS calculated that losses for the Caribbean will be between $1 billion and $3 billion, making it the most expensive atlantic hurricane since Sandy in 2012.

Source: The Times October 21, 2016 22:52 UTC