This is How Much Hurricane Dorian Could Cost Insurers

According to UBS, Hurricane Dorian, one of the biggest to hit the United States, could cost insurers a staggering $25 billion.

Analysts at UBS have projected a loss range of $5 billion to $40 billion and raised their base case to $25 billion from $15 billion with solvency capital as risk.

The analysts also estimate roughly $70 billion of natural catastrophe losses for 2019.

Hurricane Dorian is the second-strongest Atlantic storm on record and hit the Bahamas early Monday with a deadly force. The storm has hit the Grand Bahama Island for over 24 hours and remains stalled near the island.

The Category 4 Hurricane has so far killed at least five people on the Abaco Islands.

The “destructive” Dorian is “unprecedented and extensive,” said Bahamas Prime Minister Hubert Minnis.

“There’s houses that are torn apart. There’s tree limbs in the road. There’s no green shrubbery left. It’s just shredded,” said Bruce Sawyer, a resident of the hard-hit Abaco Islands to ABC’s “Good Morning America.

“I think when the eye wall hit, we had 200-plus mile per hour winds that ripped everybody’s roofs and destroyed everybody’s structure and houses,” Sawyer told ABC News. “Probably one of the most terrifying things that ever happened. The windows were caving. The doors were caving in. I honestly thought that our roof was going to be ripped off as well.”

The scary hurricane is expected to hit the East Coast from Florida to Georgia, South Carolina, North Carolina and southeastern Virginia this week.