NU Online News Service, Sept. 14, 12:54 p.m. EDT
In the wake of Hurricane Irene, loss estimates from two catastrophe modelers have differed significantly, and Eqecat today offers an explanation of how it arrived at its numbers, stating that the primary source of uncertainty is flooding.
On Aug. 28, Eqecat said U.S. insured losses from Irene will fall between $1.5 billion and $2.8 billion. AIR Worldwide, meanwhile, put the range of U.S. insured losses at $3 billion to $6 billion.
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