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Both North and South Carolina remain within the cone of probability for Dorian’s track but landfall is not projected. -
Hurricane-force winds now extend outward up to 60 miles from the centre, up from 45 miles yesterday.
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The storm had been sitting over Grand Bahama but is now expected to skirt Florida’s east coast later today.
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Devastating winds and storm surge will continue to affect the northern Bahamas for several more hours, the National Hurricane Center said.
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Previous Category 3-4 storms passing near Grand Bahama and Abaco caused up to $1.3bn of damage in today’s prices, according to the modelling agency.
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The NHC has warned that the hurricane will move “dangerously close” to the coasts of Florida, Georgia and South Carolina in the coming days.
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The cat bond pricing index only dropped by 0.78 percent last Friday when Hurricane Dorian was forecast to be a Florida hit.
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The hurricane battered the Bahamas on Sunday but is now not predicted to make landfall in the US.
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Hurricane Dorian has reached Category 5 status as it batters the Bahamas.
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Landfall is now expected further south than before, near the wealthy area of West Palm Beach
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The five Florida landfalls of hurricanes similar to Hurricane Dorian include Hurricane Jeanne in 2004, the modelling agency said.
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The historical median is considerably higher than for past Cat 3 Florida storms, with Irma a recent example.
