Warren Buffett says insured losses from Hurricane Harvey could reach $20 billion

Seattle/New York: Warren Buffett, the billionaire chairman and chief executive officer of Berkshire Hathaway Inc., said insured losses from Hurricane Harvey could climb to as much as $20 billion, though much remains unknown.

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“Nobody has too good of a feel” of the losses, he said Wednesday in an interview with CNBC, responding to a question of whether those loss estimates were reasonable. “But those don’t strike me as silly in any way. There will be a high proportion of uninsured losses to insured losses compared to most events.” Bloomberg