Preliminary estimates for insured losses in Floridafrom Hurricane Wilma could range from $2 billion to $6 billion, according to Eqecat, Inc., the Oakland, Calif.-based catastrophe modeler.
The firm said it based its estimate upon landfall wind speeds of 125 miles per hour, following information provided by the National Oceanic and Atmospheric Administration.
Beyond wind damage to commercial and residential fixed structures==such as office buildings, factories, warehouses, and homes==Eqecat's insured loss estimates include business interruption, which covers loss of earnings as a result of the destruction of property.
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