Insured losses from Category 1 Hurricane Hermine – the first hurricane to hit Florida since 2005 – will not exceed $US400 million ($523.7 million), catastrophe modeller RMS says.

Residential claims make up 60-70% of the insured loss, which includes property damage and business interruption caused by wind and coastal flooding earlier this month.

“Hermine produced damage within the expectations of a Category 1 hurricane and RMS analysis shows this event won’t severely impact the insurance industry,” RMS Hurricane Modeller Tom Sabbatelli said.