Newark, Calif.–based Risk Management Solutions said today that it estimates that insured losses from Isabel could fall in the $500 million-to-$2 billion range.
The provider of products and services for the management of catastrophe risk projected that insured losses approaching the lower figure--roughly $500 million—could be realized if the storm continues on its current track toward Cape Lookout in North Carolina.
If the storm makes landfall further north, with a more direct strike on Norfolk, Virginia Beach, and the Chesapeake Bay region, insured losses could be as high as $2 billion, RMS said.
Hurricane Isabel is currently a borderline Category 2-to-3 storm, and is expected to make landfall on Thursday afternoon (local time).
