Risk Management Solutions (RMS), the catastrophe modeling firm,said yesterday it has increased its estimate for U.S. insuredlosses from Hurricane Wilma to $8-to-$12 billion from an originalestimate of $6-to-$10 billion.
The Newark, Calif.-based company said its estimate includesonshore damage resulting from wind and coastal storm surge,business interruption, and demand surge, the increased costs formaterials and services needed for repairs.
RMS said it upped its estimate of insured loss after furtheranalysis of the wind speeds in the Miami metropolitan area andalong the eastern coastline, which Wilma crossed as a large,Category 2 hurricane on the Saffir-Simpson scale.
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