(Bloomberg) -- Hurricane Matthew, which devastated parts ofthe Caribbean before battering the U.S. East Coast, may costinsurers as much as $8.8 billion, according to AIR Worldwide.

Insured losses range from $2.2 billion to $6.8 billion for theU.S. and from $600 million to $2 billion for the Caribbean, thecatastrophe-modeling firm estimates.

Matthew left hundreds of people dead in Haiti and killed atleast 15 in the U.S., causing damage in Florida, Georgia, SouthCarolina, North Carolina, and Virginia.

The total is a fraction of the worst-case estimates made lastweek as the storm neared the Florida coast and Matthew wouldn’tmake it into the top 10 of the costliest disasters for insurers andthe reinsurers who help them shoulder risks.

Spokespeople for Munich Re, Swiss Re andHannover Re, the world’s biggest reinsurers, said it’stoo early to estimate their companies’ claims.

Haiti pounded

Hurricane Matthew made landfall in Haiti on Oct. 4 as a category 4Hurricane, the second-strongest on the Saffir-Simpson scale. It’sHaiti’s largest humanitarian catastrophe since the earthquake in2010, according to the United Nations.

CCRIF SPC, formerly known as the Caribbean CatastropheRisk Insurance Facility, said it’s preparing a payout of about$20 million to the government of Haiti, it’s highest ever. Thefund’s sponsors include the governments of Canada, the U.K.,France, Ireland and Bermuda, as well as the World Bank and theCaribbean Development Bank.

Storm stayed 25 miles off Florida coast

The closest the storm’s center got to onshore properties in Floridawas 25 miles (40 kilometers) east of Cape Canaveral, “where NASA’srocket-launch facility experienced damage to roofs, windows andsiding, as well as some water intrusion,” AIR said in an emailedstatement.

The Atlantic hurricane season, which runs from Junethrough November, can result in the insurance industry’s biggestlosses. It typically sees the most activity from mid-August tomid-October.

The industry’s most expensive natural disaster so far wasHurricane Katrina, which devastated New Orleans in 2005 and led to$60.5 billion in claims, according to data by German reinsurerMunich Re.

Related: View our full coverage on disaster risks andrecovery for Hurricane Season 2016.

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