Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, said that insured losses in the U.S. could range from $4 to $10 billion if Hurricane Ivan follows the latest meteorological forecasts. T
he storm is now expected to come onshore near Mobile Bay, Alabama, on Thursday morning as a category 4 or strong category 3 hurricane. Additional insured losses of $1-2 billion are expected from damage in the Caribbean over the past week, with the majority occurring in the Cayman Islands.
According to the National Hurricane Center, at 2 pm EDT on Wednesday, the center of Hurricane Ivan was located about 170 miles south of the Alabama coast, and was moving to the north at 14 mph. Ivan was still a formidable category 4 hurricane on the Saffir-Simpson scale, with maximum sustained winds near 135 mph.
