INSURED LOSSES FROM HURRICANE DORIAN COULD COST INSURERS BETWEEN &1.5BN TO $3BN

Catastrophe risk modelling firm AIR world wide have estimated Insurance Industry Insured losses resulting from Hurricane Dorian’s impact to the Caribbean to hover between $1.5bn to $3bn Hurricane Dorian which first made land fall on St Thomas as a category 1 hurricane then tracked through and out of the Virgin Islands. Favourable conditions in the Caribbean Sea and lesser/ Antilles fuelled Dorian’s development that resulted in a rapid intensification into a major Category 4 hurricane on August 31st. Further intensification occured and Dorian reached Category 5 Intensity on September 1st making it the strongest hurricane to affect the northwestern Bahamas in modern records.

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