AIR Worldwide, a risk modeling and data analytics company, has estimated insured losses of between $1bn and $3bn from the Hurricane Sally catastrophe that made landfall last week.
But Karen Clark & Company pitched it halfway at an estimated $2bn losses.
The Hurricane Sally had occurred near Gulf Shores in Alabama, just west of the Florida border the previous week.
The slow trajectory of the storm meant many areas were battered by winds and rain for hours.
AIR Worldwide in a report said property damage from Alabama to Florida was mainly caused by wind, with claims also expected from storm surge and inland flooding.
Nearly half a million residents in Alabama and Florida lost power.
AIR Worldwide said further that Orange Beach and Dauphin Island in Alabama recorded the most notable storm surge.
In Pensacola, 25 inches of rain caused inland flooding even as KCC said the new Pensacola Bay Bridge was also damaged as a portion of the structure was destroyed in the storm.
KCC said Hurricane Sally was the first hurricane to make landfall in Alabama since Hurricane Ivan in 2004.
Sally became the eighth named storm in the US storm season. This is the most storms ever by mid-September.
