The U.S. has been hit by two giant hurricanes. Here's the financial toll [CNN]
PNC Financial Services Group, Inc. (The) (PNC)
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Source: CNN
The U.S. has been hit by two giant hurricanes. Here's the financial toll One monster hurricane can cause serious economic damage. So what happens when two massive storms hit the U.S. within two weeks of each other? Hurricane Harvey decimated parts of Texas and damaged southwest Louisiana when it hit the region late last month, destroying billions of dollars worth of property. Now, Hurricane Irma is tearing through Florida. Both storms will be extremely costly. RMS, a catastrophe modeling company, estimates that Harvey has caused between $25 billion and $35 billion in losses that will be covered by insurance. The total economic damage, which includes uninsured losses, could be between $70 billion and $90 billion. RMS is waiting until Monday or Tuesday to release damage estimates from Irma, since the storm's path is still in flux. AIR Worldwide, another so-called catastrophe modeling firm, says Irma might cause anywhere between $15 billion and $50 billion worth of insured losses in the
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PNC
Earnings
- 4/16/24 - Beat
PNC
Sec Filings
- 4/23/24 - Form 4
- 4/23/24 - Form 144
- 4/16/24 - Form 8-K
- PNC's page on the SEC website