Insurers are expected to pay out between $32 billion and $50 billion to policyholders affected by Hurricane Irma in the US and Caribbean.

That is the estimate of Air Worldwide, the Boston-based risk modelling solutions company.

The company believes industry-insured losses in the US resulting from Irma will range from $25 billion to $35 billion, while for the Caribbean the range will be between $7 billion and $15 billion.

Irma was a Category 5 hurricane, the most powerful recorded in the Atlantic Ocean, when it hit the island of Barbuda in the eastern Caribbean on September 6. It then struck a number of other islands, including St Kitts and Nevis, Anguilla, St Martin/St Maarten, St Barts, the British and US Virgin Islands, Turks and Caicos, and Cuba.

Irma was a Category 4 hurricane when it made landfall at the southern tip of Florida on September 10, before tracking along the state’s western coast.

In a statement, Air said: “Most of Florida was in peril due to the massive size of the storm, as hurricane-force winds extended 80 miles from the eye, and tropical storm — force winds extended more than 400 miles, covering the entire state and driving storm surge into both the Atlantic and Gulf coasts.”

Air’s estimated industry-insured losses for the United States resulting from Hurricane Irma include wind and storm surge damage to onshore residential, commercial, and industrial properties and their contents; and auto.

Air’s US estimates do not include losses paid out by the National Flood Insurance Programme; losses resulting from the compromise of existing defences; losses to uninsured properties; losses to infrastructure; losses to inland marine, marine cargo and hull, and pleasure boats; or losses from hazardous waste cleanup, vandalism, or civil commotion, whether directly or indirectly caused by the event.

While for the Caribbean, Air’s losses include wind and precipitation-induced flooding damage to onshore residential, commercial, and industrial properties and their contents, auto, and time element coverage, but do not include losses to infrastructure; losses from hazardous waste cleanup, vandalism, or civil commotion whether directly or indirectly caused by the event; demand surge; losses to offshore properties; pleasure boats, and marine craft; losses resulting from the compromise of existing defences; and losses to uninsured properties.