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September 15, 2004

RMS Estimates Potential Insured Losses for Hurricane Ivan of $4 to $10 Billion

Risk Management Solutions (RMS), the world's leading provider of products and services for the management of catastrophe risk, today said that insured losses in the U.S. could range from $4 to $10 billion if Hurricane Ivan follows the latest meteorological forecasts. The storm is now expected to come onshore near Mobile Bay, Alabama, on Thursday morning as a category 4 or strong category 3 hurricane. Additional insured losses of $1-2 billion are expected from damage in the Caribbean over the past week, with the majority occurring in the Cayman Islands.

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Posted by Tom Troceen