Hurricane Maria will cost insurers up to $US85 billion ($108 billion), with Puerto Rico bearing the bulk of the losses, according to catastrophe modellers.

The US territory will account for more than 85% of the bill, AIR Worldwide says.

AIR Worldwide predicts overall insured losses of $US40 billion ($51 billion) to $US85 billion, which includes spikes in labour and material costs typically experienced post-catastrophes and physical damages to onshore properties and autos caused by wind and flooding.

Rival catastrophe modeller RMS has a lower insured loss estimate of $US15-$US30 billion ($19-$38 billion) for damages from wind, storm surge and inland flooding across the Caribbean.

Its estimates reflect post-event loss amplification.

“The Caribbean was hit hard by Maria, but Puerto Rico bore the brunt of insured damage,” RMS Head of Product Management for US climate models Michael Young said.

“It may have avoided the worst impacts of Hurricane Irma at the start of September, which only glanced the island. However, with Maria, Puerto Rico suffered a direct and costly hit.”

Discussions with insurers indicate the most devastating damage is in areas with very low insurance coverage, thereby limiting the loss impact on the industry.

Maria severely damaged Puerto Rico’s infrastructure with the island still struggling to restore water supply, electricity and other necessities since the hurricane struck more than a week ago.