Risk Management Solutions (RMS), the world’s leading provider of products and services for the management of catastrophe risk, today said that potential insured losses could range from $2 to $20 billion based on the latest forecasts for Hurricane Frances. Uncertainty in the storm’s track and intensity increased overnight as Frances slowed down and weakened. Maximum sustained wind speeds in Frances dropped from 145 mph yesterday to 115 mph as of 11 am EDT on Friday, making Frances a moderate category 3 hurricane. The storm is now expected to reach Florida’s east coast some time late Saturday evening or even into Sunday.
RMS Estimates Potential Losses in the Range of $2 to $20 Billion for Hurricane Frances, Based on Latest Forecasts
External References & Further Reading
http://www.rms.com/NewsPress/PR_081704_HUFrances_0903.asp