Hurricane Dennis Insured Damage Expected to Be $900 Million

Insurers are expected to pay $900 million to cover damage caused by Hurricane Dennis in the U.S.

A risk analysis company says the sum is much less than any of the four storms that pummeled the Southeast last year.

The Category 3 hurricane made landfall near Pensacola on July 10. It caused the worst damage in the Florida Panhandle and Alabama.

According to the company Florida should have $640 million in losses to residential and commercial property and automobiles.

Alabama is expected to have $115 million in losses. It is followed by Georgia with $85 million. Mississippi follows with $60 million.

The estimates are based on a survey of insurance companies. They are lower than the $1 billion to $4 billion initial damage projections for Dennis.