RVS MONTE CARLO: AIR ESTIMATES INSURED LOSSES FOR DORIAN BETWEEN 1.5 BILLION – 3 BILLION USD

Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses resulting from Hurricane Dorian’s impact to the Caribbean will range from 1.5 billion USD to 3 billion USD.

According to AIR, Hurricane Dorian made landfall on St. Thomas on August 28 as a Category 1 hurricane. Dorian then tracked through and out of the Virgin Islands. Favorable conditions in the Caribbean Sea and Lesser Antilles fueled Dorian’s development, resulting in rapid intensification into a major Category 4 hurricane on August 31.

Further intensification occurred, and Dorian reached Category 5 intensity on September 1, becoming the strongest hurricane to affect the northwestern Bahamas in the modern record, according to Milan SIMIC, Executive Vice President of AIR

Dorian made landfall on Great Abaco Island on September 1, with maximum sustained winds of 185 mph and a minimum central pressure of 911 mb-ultimately bottoming out at 910 mb a few hours later. After achieving its peak intensity during landfall, Dorian’s forward speed decreased…

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