Ron DeSantis said the damage caused by Ian is "indescribable" 5:43
New York (CNN Business) --
Hurricane Ian may have caused as much as $47 billion in insured losses, according to the latest estimate, which could make it one of the costliest cyclones in the state's history.
CoreLogic, a research company that calculates losses from natural catastrophes, released the damage estimate as of Thursday night.
The estimates combine losses insured through private insurance, which typically covers wind damage, and FEMA's National Flood Insurance Program, which covers water damage.
Photoreport: This is how Hurricane Ian hit Florida
CoreLogic estimates range from $22 billion to $32 billion in wind damage and $6 billion to $15 billion in flood damage.
So all told, the low end of the combined estimate would be $28 billion, just above the $26.5 billion in losses caused by Hurricane Andrew, which hit South Florida in 1992, and has been rated as the state's costliest tropical cyclone ever since.
Analysis of the passage of Hurricane Ian through Florida 3:52
But that estimate of the losses caused by Hurricane Andrew, produced by the National Oceanic and Atmospheric Administration of the United States (NOAA, for its acronym in English), represents the cost of 30 years ago.
Adjusted for inflation, Andrew's cost in 2022 dollars would be $55.7 billion.
Still, if CoreLogic's estimates prove accurate, on an inflation-adjusted basis Ian would be the second most expensive storm in the state.
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Hurricane Ian