AIR Worldwide estimates insured losses in the United States from Hurricane Ivan will be between $3 billion to $6 billion. Losses in the Caribbean will likely add another $1 billion to $2.5 billion to the total.
Hurricane Ivan was large and powerful, making landfall near Gulf Shores, Ala. as a strong Category 3 storm with hurricane strength winds extending out more than 100 miles from the center.
The most extensive damage will reportedly be near the center and to the east of the track from Mobile, Ala. to Pensacola, Fla.
AIR expects significant damage to mobile homes, roofs and light commercial structures.
Was this article valuable?
Here are more articles you may enjoy.
AIG to Acquire Renewal Rights of Everest’s Retail Commercial Business Worth $2B 
Rivian Agrees to Pay $250 Million to Settle IPO Fraud Lawsuit 
Old Republic to Acquire Small Farmowner Insurer Everett Cash Mutual 
Catastrophe Bonds’ Huge Market Gains Put Reinsurers on Backfoot 
