Catastrophe-modeling firm AIR Worldwide estimates that Hurricane Maria caused up to $85 billion in insured losses. Puerto Rico is believed to account for more than 85% of this loss, with an estimated loss range between $40 and $85 billion. AIR’s estimate includes demand surge, which accounts for higher rebuilding costs based on the increased demand for labor and materials that generally occurs following major hurricanes. Excluding demand surge, the estimated $85 billion upper figure lowers to $67 billion. The impact that demand surge will have on Puerto Rico is highly uncertain, as Puerto Rico’s prolonged power outages will delay reconstruction efforts and potentially cause significant migration to the mainland.