Risk Management Solutions, the latest catastrophe modeler to evaluate insured losses from Hurricane Dolly, said they would amount to less than $750 million--less than some previous loss forecasts.
The loss estimate for the Category 2 storm that hit Texas yesterday includes wind, flood and storm surge damage to residential, commercial and industrial properties.
Newark, Calif.-based RMS said the figure also includes crop damage and business interruption resulting from power outages. RMS said some 500,000 people would be impacted by the storm.
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