Insured loss estimates are increasing and indications are that estimates will grow greater than the figures released late last week.
Newark, Calif.-based Risk Management Solutions (RMS) and Oakland, Calif.-based Eqecat, Inc., raised their loss estimates late Friday, with significant increases over their initial estimates as the extent of loss becomes more apparent.
RMS raised its range of loss estimate from $10- to $25-billion to $20- to $35-billion in insured losses. Eqecat raised its estimate range from $9- to $16-billion to $14- to $22-billion, based on more detailed information on the extent of flooding in Louisiana.
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