Risk Management Solutions (RMS) has revised its U.S. onshore and offshore insured loss estimate for Hurricane Ike to $13-to-$21 billion, up from a $7-to-$12 billion estimate given on Sept. 17.
The revised loss estimate is based on "a new post-event modeling methodology that captures the uncertainty in Ike's wind and storm surge footprint, due to the lack of observations, using an ensemble of 300 varying simulations of this footprint," RMS said.
The new figures include $10-to-$15 billion in estimated wind and storm surge damage in Texas and Louisiana, $2-to-$3 billion in damages from inland wind and flood losses, and $1-to-$3 billion in offshore losses. The figures do not include losses covered by the National Flood Insurance Program, RMS noted.
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