Insured losses from Hurricane Ike could run between $50 million and $200 million for damages to the Turks and Caicos Islands, according to a catastrophe risk modeler, and another modeler said before Ike dissipates it could cause carriers $15 billion in losses.

Risk Management Solutions in Newark, Calif., said the losses from Ike are due to wind and storm surge damage as well as increases in the cost for goods and services.

Of the projected figure for Caribbean losses, 70 percent will go to Grand Turk Island ($35 million to $140 million), which bore the brunt of the storm. RMS said that 90 percent of all properties suffered wind damage, according to reports it received. Around 20 percent of the total loss can be allocated to the southeastern Bahamas, with the rest coming from the North and South Caicos Islands.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.