Insured Tsunami Losses Now Estimated Under $4 Billion
NU Online News Service, Jan. 31, 1:30 p.m. EST? Risk Management Solutions, a catastrophe-risk modeling firm in Newark, Calif., said overall insured losses from the Dec. 26, 2004 Indian Ocean tsunamis will be below $4 billion.[@@]
This first official estimate from RMS is significantly lower than a previous assessment earlier this month from the International Underwriting Association of London, which said after querying its member companies that total insured losses are expected to range between $5 billion and $10 billion.
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