EQECAT Revises Ike Loss Estimates

According to a revised estimate from Oakland, California-based risk modeling firm EQECAT Inc., U.S. onshore insured losses from Hurricane Ike are estimated to range from $8 billion to $12 billion. Previous estimates were in the range of $8 billion to $18 billion. 
 
In addition, EQECAT said the total economic loss to offshore oil and gas facilities from Hurricane Ike is estimated to be in the range of $4 billion to $6 billion, with property damage making up about $1.5 billion to $2 billion, and lost production accounting for about $2.5 billion to $4 billion. 
 
Total offshore insured losses are only likely to be a small portion of total economic offshore losses, EQECAT said.

Published on September 22, 2008