ZCZC
BFF-21
BAHAMAS-WEATHER-HURRICANE-DAMAGE
Dorian insured damages in Caribbean as much as $6.5 bn
PARIS, Sept 10, 2019 (BSS/AFP) – Hurricane Dorian, which lashed the
Bahamas with devastating winds and surges of water, likely caused between
$3.5 and $6.5 billion in insured damages in the Caribbean, said risk
modelling and analytics firm RMS.
The California-based company said late Monday its estimate includes
insured losses associated with wind and storm surge damage across the
Caribbean region, most notably in the Bahamas, which was the most severely
impacted country.
It added that the estimate reflects the costs of property damage and
business interruption, with hotels and resorts making up a large portion of
the overall commercial exposure in the two most heavily impacted islands of
Grand Bahama and Abaco.
“Port closures, damaged roads, and severe damage to the airport will make
it difficult to deliver the necessary labour and materials to impacted
areas,” Jeff Waters, senior project manager of the firm’s North Atlantic
hurricane models, said in a statement.
“Consequently, cost of materials is expected to inflate, and repairs could
be prolonged, both of which are expected to amplify the cost of the claims
from this event,” he added.
Authorities in the Bahamas have updated the death toll from Hurricane
Dorian to 45 but the number is expected to climb as only a portion of the
affected area has been searched thoroughly and many people are believed
missing.
BSS/AFP/FI/ 1432 hrs