NU Online News Service, Sept. 3, 12:10 p.m. EDT
Modeler EQECAT Inc. reduced its estimate of insured losses caused by the landfall of Typhoon Kompasu in South Korea.
EQECAT said insured loss from the storm will range from $500 million to $2 billion. Previously the modeler said insured losses would be in the $1 billion to $3 billion range.
Kompasu made landfall at Incheon, South Korea--about 43.5 miles from Seoul and about 10 miles away from an international airport in the country's second-largest city.
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