Irene’s Estimated U.S. Insurer Cost Drops to $2.6 Billion; Hartford Climbs

Monday, August 29th, 2011 Auto Catastrophe Property

Hurricane Irene’s estimated cost to insurers fell to about $2.6 billion in the U.S. as the storm lost strength en route to New York, according to Kinetic Analysis Corp., a firm that predicts the effects of disasters. That compares with a projection last week from the Silver Spring, Maryland-based company of as much as $14 billion when Irene was forecast to make landfall in New York as a Category 2 hurricane. Total economic losses, including those that aren’t insured, may be about $7 billion.

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http://www.bloomberg.com/news/2011-08-28/hurricane-irene-s-estimated-u-s-cost-for-insurers-declines-to-3-billion.html

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