Bermuda Offers Lesson In Hurricane Preparedness
On Sept. 5, Hurricane Fabian became the most powerful storm to hit Bermuda in 50 years. With sustained winds of 120 mph (195 kph) and even higher gusts, Fabian was a Category 3 storm on the Saffir-Simpson scale when its eye passed within 30 miles to the west of the island. Its path positioned the most severe northeastern part of the storm directly over the island and put the islands tough building stock and stringent building codes to the test.
As the storm was making its pass, Boston-based catastrophe modeling firm AIR Worldwide estimated that insurable losses could be as high as $300-to-$350 million (insurable losses include all properties for which insurance could be purchased). Based on AIRs estimates of insurance take-up rates in Bermuda, insured losses are expected to be between $250-to-$300 million.
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