General Accident ( GA ) , the leading British insurer , said yesterday that Hurricane Andrew could cost it as much as $ 40 million . A company spokesman later explained , however , that GA has only a 5 % share of the Florida market . The company 's adjusters who are trying to estimate the losses guess that losses by all insurers worldwide may total more that $ 8 billion , but there have been other estimates that the storm caused more than $ 20 billion of losses . Still other insurers have estimated that losses could be as low as $ 10 billion . " No one knows at this time what the exact loss is . " the spokesman explained .
General Accident (GA), the leading British insurer, said yesterday that Hurricane Andrew could cost it as much as $40 million. A company spokesman later explained, however, that GA has only a 1/2% share of the Florida market. The company's adjusters who are trying to estimate the losses guess that losses by all insurers combined may total more that $8 billion, but there have been other estimates that the storm caused more than $20 billion of damage. Still other insurers have estimated that losses could be as low as $1 billion. "No one knows at this time what the exact loss is." the spokesman explained.