Up to $30bn in insured damages from Hurricane Harvey.

The natural disaster that dealt heavy blow to Texas in United States with unprecedented rain last month cost the country no less than $30 billion, about 9.1 trillion naira in insured damages.

This was an estimated figure posted by German reinsurance firm, Munich Re on Sunday.

"It is a big estimate. The cost could climb a little bit, but not much," said Torsten Jeworrek, a member of Munich Re's management board, during an insurance conference in Monaco.

Damage estimates for Hurricane Harvey, which made landfall in Texas on August 26 before returning out to sea to then lash Louisiana, vary from around $50 billion to well in excess of $100 billion.

However not all property was insured or fully insured.

Property insurance policies in the United States don't cover floods. Many homeowners don't take out separate flood insurance from the government, while the amounts available aren't always sufficient for businesses.

Houston and the surrounding areas saw massive flooding that not only damaged homes and cars, but also roads and bridges.

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