Hurricane Dorian could hit the insurance industry with more than $25 billion in losses, UBS says

The bank recently widened its loss estimate and now expects Dorian to cause $5 billion to $40 billion worth of damage. It also increased its base case for the storm’s impact on insurers to $25 billion from $15 billion.

Dorian is the most powerful storm to hit the Atlantic since the 1935 Labor Day hurricane, according to the National Hurricane Center.

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