Insured damage from Megi expected to be low: EQECAT

Insured property damage in China as a result of Typhoon Megi should be relatively low, according to catastrophe modeler EQECAT Inc. Oakland, Calif.,-based EQECAT said economic damage from the typhoon, which is expected to make landfall in China this week, could range from $500 million to $1 billion.