BOTTOM LINE WEATHER POINTS
– Damage estimates from Ike estimated to cost between $13 and $21 billion
– Estimates include $10 - $15 billion for wind/storm damage along coast
– Ike is the third costliest U.S. storm after Hurricanes Katrina and Andrew
A group called Risk Management Solutions reports that damages from Hurricane Ike could soar past the $21 billion mark, making it the third costliest storm in American history after Hurricanes Katrina and Andrew.
– Damage estimates from Ike estimated to cost between $13 and $21 billion
– Estimates include $10 - $15 billion for wind/storm damage along coast
– Ike is the third costliest U.S. storm after Hurricanes Katrina and Andrew
 |
| Ike spared just one home in this neighborhood |
A group called Risk Management Solutions reports that damages from Hurricane Ike could soar past the $21 billion mark, making it the third costliest storm in American history after Hurricanes Katrina and Andrew.
The preliminary estimate issued by the global risk assessment firm four days after the hurricane struck Texas and Louisiana on Sept. 13 estimated losses between $7 billion and $12 billion. The firm is now pushing those estimates for U.S. onshore and offshore insured losses from Ike to be in the range of $13 billion to $21 billion, according to the Houston Business Journal.
The damage estimates include $10 billion to $15 billion for wind and storm surge, $2 billion to $3 billion from inland wind and flood losses and $1 billion to $3 billion in offshore losses — separate from losses covered by the National Flood Insurance Program.
The inland wind and flood losses in the Midwest resulted from wind damage caused by an unusual combination of the remnants of Ike and another weather system.
The report issued Oct. 24 said that putting a tab on energy industry offshore platform losses are a source of uncertainty, due to a wide range of industry practices on insuring both physical platform damage as well as business interruption caused by loss of production.
