Ivan May Be 2nd Costliest U.S. Hurricane
Friday, September 17th, 2004 Catastrophe PropertyChicago-based Fitch Ratings has issued some preliminary comments on the extent of the losses from Hurricane Ivan‘s destructive rampage through Alabama, Florida and other Gulf Coast States. Advertisement Fitch noted that "Ivan was a strong Category 3 hurricane with 130 mph winds when it made landfall," and was the "third major hurricane to strike the United States this season, following Charley and Frances." It‘s also likely to "be the costliest of the three storms," based on catastrophe modeling firm EQECAT‘s preliminary estimates in the range of $4 to $12 billion. [See also estimates from AIR and RMS] Fitch cautioned that "it is still too early to make accurate insured loss estimates, noting that final insured losses from Frances have still not yet been tallied.
