RMS
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Yen Chin, a director in RMS’s Singapore office, defended the quality of modelling in the region. -
The storm is now at Category 4 strength, and tracking to make landfall in Japan at Cat 3.
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This year is on track to be above average, according to the risk modelling firm.
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The facility had originally estimated that it would pay out $10.9mn.
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The risk modelling firm has released the highest estimate for industry losses so far and the top end of its prediction could hit some ILWs.
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The vast majority of the losses will come from Grand Bahama and Abaco, the risk modelling firm said.
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Hurricane-force winds now extend outward up to 60 miles from the centre, up from 45 miles yesterday.
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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 five Florida landfalls of hurricanes similar to Hurricane Dorian include Hurricane Jeanne in 2004, the modelling agency said.
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