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A home surrounded by flood water following Hurricane Harvey's arrival. (Photo: Associated Press/Eric Gay)

Catastrophe modeling firm AIR Worldwide estimates that industry insured losses resulting from Hurricane Harvey’s winds and storm surge in Texas will range from $1.2 billion to $2.3 billion.

AIR’s current estimates include wind and storm-surge damage within the extent of Harvey’s tropical storm-force and hurricane-force wind field. Included in the estimates are onshore residential, commercial, and industrial properties and their contents, automobiles, and additional living expenses for residential properties and business interruption for commercial properties.

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