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RMS Revises Ike Loss Predictions Upward

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 o

By Phil Gusman | Updated on October 24, 2008

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.

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