Damage from Hurricane Emily, which struck South Texas Wednesday, will be less than $1 billion insured loss, according to an estimate released today.
Meanwhile, a Florida regulator ordered insurers not to cut coverage for homes damaged July 10 by Hurricane Dennis as claims numbers from that storm began to trickle in.
The Emily estimate was released by Oakland, Calif.-based Eqecat. David F. Smith, director of Eqecat's Research Group, said the estimates cover a wide range, with the damage to Mexico's Yucatan Peninsula, where Emily hit Monday with sustained winds of 125 mph, at between $100 million and $600 million. For the Gulf Coast, damage estimates range from $50-to-$350 million.
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