Hurricane Maria has devastated Puerto Rico. The damage could prove very costly for insurers, too. The losses in the U.S. territory—still cut off in large areas from power and communications—may even surpass the more than $50 billion caused by hurricanes Harvey and Irma in a way that now looks more likely to push up insurance rates. Unlike other Caribbean islands, Puerto Rico’s main business isn’t tourism, but manufacturing goods like pharmaceuticals and electronics—heightening payouts for business interruption as well as...

Source: Wall Street Journal October 03, 2017 09:22 UTC