Catastrophe modelers estimated insured losses from Saturday's Hurricane Rita damage to Gulf Coast areas of Texas and Louisiana could total from $2.5 billion to $7 billion.
AIR Worldwide Corp. in Boston on Saturday put the range of its estimate as between $2.5 billion and $5 billion. Eqecat in Oakland, Calif., said the loss could range from $3 billion to $6 billion. Risk Management Solutions in Newark, Calif., came in with the biggest estimate--with a prediction of between $4 billion and $7 billion.
Total losses for Texas were put by authorities there at $8 billion.
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