AIR Worldwide
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The modeller said repairs to infrastructure could run into months.
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The climate forecaster claims that the underlying assumption may be faulty.
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No damage has been reported to the city’s nuclear power plant.
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The latest annual estimate was 4% higher than in 2019 and up 11% since 2018.
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The modelling companies issue lower ranges than KCC’s earlier $4.4bn forecast. -
Sally buffeted cities and town as it moved across Alabama at speeds as low as 2 mph, the modeller said.
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Ciara and Dennis may turn out to be the most significant European windstorm losses since 2018.
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The forecast broadly aligns with estimates from rival modelling company AIR.
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The facility had initially estimated a payout of $10.9mn.
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Insured loss estimates given in the fortnight following Typhoon Jebi last year were low. AIR gave a range of $2.3bn-$4.5bn and RMS predicted $5.5bn.
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The top end of the estimate is significantly higher than early market forecasts for claims of up to $5bn.
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AIR last week predicted up to $3bn in insured losses in the Caribbean from the storm.
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