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Insurance losses from Hurricane Harvey likely below $6bln -RMS
August 25, 2017 / 3:22 PM / a month ago

Insurance losses from Hurricane Harvey likely below $6bln -RMS

LONDON, Aug 25 (Reuters) - Insurance losses from Hurricane Harvey are unlikely to exceed $6 billion and could end up being below $1 billion in some scenarios, risk modelling firm RMS said on Friday.

The hurricane is set to make landfall late Friday or early Saturday on the coast of Texas in the United States, potentially the most powerful hurricane to hit the U.S. mainland in more than a decade.

“Our selection of scenarios suggests something in the low single-digit billions is most likely from wind damage,” RMS said in an email. (Reporting By Carolyn Cohn, editing by Lawrence White)

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