Following is an excerpt of a news article written by Bryant Rousseau, group editorial director of AdvisorOne’s sister publication, PropertyCasualty360.
While the worst-case scenarios surrounding property and casualty losses from Hurricane Irene were avoided, early estimates still have Irene causing up to $3 billion in insured losses, with total losses reaches reaching up to $7 billion.
Eqecat is estimating insured losses in a range from $1.5 billion to $3 billion, with $200-$400 million of that coming from damages in the Carolinas.