The flash estimates from Karen Clark & Company are that the privatelyinsured loss from Hurricane Idalia will be close to $2.2 billion, with less than $5 million in wind damage in the Caribbean and the rest from wind and storm surge losses in the US.

Based on the high-resolution KCC Caribbean and US Hurricane Reference Models, the estimate includes the privately insured damage to residential, commercial, and industrial properties, as well as automobiles.

One of the earliest estimates, the report said it does not include boats, offshore properties or National Flood Insurance Program losses.

Hurricane Idalia rapidly intensified from Category 1 to Category 4 in the warm waters of the Gulf of Mexico from Tuesday, August 29 into Wednesday, August 30, increasing wind speeds by 55mph over a 24 hour period.

Idalia made landfall near Keaton Beach, Florida on Wednesday, August 30 at 7:45 AM as a strong Category 3 hurricane with 125mph winds.

US impacts from Hurricane Idalia spread across a wide area, with storm surge and high winds impacting Florida, Georgia, North Carolina and South Carolina.

Hurricane Idalia was the strongest hurricane to make landfall in Florida’s Big Bend region since an unnamed Category 3 hurricane in 1896.

It was also the first major hurricane on record to track through Apalachee Bay.

The storm surge from Idalia was likely record-breaking – preliminary measurements show surge heights above 9 feet in the Steinhatchee River, 8 feet in Cedar Key, and 4.5 feet in Tampa Bay, all of which would break previous records, if confirmed.

Idalia brushed the western side of Cuba as a strong tropical storm, bringing impacts to that side of the island nation.

Heavy rainfall and strong, gusty winds caused flash flooding and landslides and power was knocked out for more than 300,000 people.

Additionally, at least 20 school buildings were damaged by the tropical storm.

Total estimated insured losses in the Caribbean are less than $5 million. Coastal regions like Pinar del Rio saw storm surge up to 4-6 feet above normal levels.

As Idalia approached the southeastern US, tropical storm force winds reached the Florida warning area on Tuesday, with hurricane conditions Wednesday as Idalia made landfall in Keaton Beach, Florida as a Category 3 storm with winds at 125mph. The storm's windfield extended far from the centre, with tropical storm winds spanning over 175 miles across Florida and Georgia.

Isolated instances of structural damage occurred near the coast due to high winds and downed trees.

Further inland, Idalia's winds caused minor roof and siding damage.

Across Florida and Georgia, over 450,000 customers were without power.

Idalia made landfall along one of the least populated areas of the Florida Coast, which kept insured losses relatively low, highlighting the influence of location on total and insured damage. KCC estimates that insured wind losses from Hurricane Idalia will be close to $2 billion.

Idalia brought significant coastal flooding from storm surge, especially in the area around Cedar Key, Florida which saw water levels surge nearly 7 feet above normal.

Other areas in the Florida Big Bend and areas on the northeast Florida coast also experienced surge flooding as the wide windfield of Idalia blew ashore. Storm surge penetrated inland at bays and along rivers.

The downtown areas of Tampa and St Petersburg saw surge of roughly 5 feet, the second-highest levels recorded for St Petersburg. Record tides were also observed in Tampa Bay, Cedar Key, Steinhatchee River and other locations.

On the East Coast, downtown Charleston and nearby Edisto Beach were partially inundated when water breached the Charleston Battery and raised the tide level in Charleston Harbor to 3.47 ft above the average high tide level, partially exacerbated by the supermoon.

KCC estimates that insured storm surge losses from Hurricane Idalia will be close to $210 million.