Hurricane Ike's target zone includes properties along the Texas coast with insured value of over $890 billion, according to one catastrophe modeler, but the extent of insured losses will greatly depend on just where the storm lands.
Boston-based AIR Worldwide said today that in a recent report titled “The Coastline at Risk,” it estimates the insured value of residential and commercial properties in coastal counties of Texas exceeds $890 billion. However, AIR went on to say, the distribution of these exposures is far from uniform.
“The largest concentrations are along the northern part of the coast, near Houston,” Peter Dailey, director of atmospheric science at AIR, said in a statement. “The five northernmost coastal counties, including Houston's Harris County, account for 85 percent of the total coastal exposure in Texas.”
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