The storm shifted to Floridas Gulf Coast over the weekend, sparing Miami a direct hit and prompting risk modeler AIR Worldwide to say the maximum cost for insurers on Irma is $40 billion.
Irma swept over islands in the Caribbean and barreled toward Puerto Rico with Florida in its sights as the Cat 5 hurricane threatens to become the most expensive storm in U.S. history.
Contributing to Harvey's high losses is the fact that Texas has one of the most relaxed approaches to building codes, inspections and other protections.
In addition to its economic impact, Harvey prompted thousands of residents along the Texas coast to flee their homes and caused Governor Greg Abbott to declare an emergency.