On Tuesday, Moody’s RMS released new estimates placing the economic damage caused by August’s Maui wildfires between $4 billion to $6 billion.
Moody’s reportedly examined business interruptions, property damages throughout industrial, commercial, residential and infrastructural sectors when conducting its analysis.
However, Moody’s did not take gross domestic product losses or government rebuilding spending into account when making its estimates, making the true cost of the devastating disaster still unknown.
Moody’s went on to note that around 75% of the damage on Maui is likely to be covered by insurance.
