An analysis by global reinsurance broker Gallagher Re has indicated that insured losses from Hurricane Debby are likely to be manageable, estimated between $1 billion and $2 billion. The hurricane made landfall as a Category 1 storm near Steinhatchee, Florida, causing significant flooding but limited wind damage due to its location. While the National Flood Insurance Program is expected to face payouts in the hundreds of millions, many homeowners in inland areas may be left without coverage since flood insurance is less common there. Overall, the economic losses, including both insured and uninsured costs, could amount to several billion dollars, particularly affecting homeowners lacking flood insurance.
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