A catastrophe claims modeler, AIR Worldwide, estimates the damage caused by Hurricane Florence. Even before all the damage is reported, examined, and written up.
So, AIR's premature estimate is understandably in a very wide range:
Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses resulting from Hurricane Florence’s winds and storm surge will range from USD 1.7 billion to USD 4.6 billion. Note that these estimates do not include the impact of the ongoing flooding from Hurricane Florence’s unprecedented precipitation.
(AIR Worldwide Press Release, AIR Worldwide Estimates Insured Wind and Storm Surge Losses for Hurricane Florence, Tuesday, September 18, 2018, also accessible at https://www.air-worldwide.com/Press-Releases/AIR-Worldwide-Estimates-Insured-Wind-and-Storm-Surge-Losses-for-Hurricane-Florence/.)
Why is this useful? Why do we have guesses now? Why can't we just wait for the actual returns to come in?
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