Hurricane Harvey is proving to be one insane storm.
And with any insane storm, comes huge costs to repair homes and infrastructure. TheStreet's founder and Action Alerts PLUS portfolio manager Jim Cramer estimates the worst case scenario in terms of Harvey damages at $100 billion. Others on Wall Street also have big forecasts.
Chubb Ltd. (CB) , Travelers Corp. (TRV) and other insurers could face as much as $20 billion in losses from Hurricane Harvey, as extensive flooding in the Houston area leads to big claims on commercial-property policies, JPMorgan Chase & Co. has warned.
Property damages from Tropical Storm Harvey "in the range of $30 billion" could impede GDP growth in the third quarter of 2017, Goldman Sachs analysts said in a new note Tuesday.
- Amazon Is on the Verge of a Colossal Breakdown After Whole Foods Deal
- Here Are the Benefits Amazon Prime Members Will Get at Whole Foods
- Hurricane Harvey Has Sent Walmart Into Major Disaster Relief Mode
- Domino's and Ford Join Forces to 'Kill' the Pizza Delivery Boy