Ike losses could top $16bn, says RMS

Insured losses from Hurricane Ike could be as much as $16bn, according to catastrophe modeling agencies.

Risk Management Solutions (RMS) predicted that losses from the hurricane, which made landfall on the Texas coast on Saturday, would range between $6bn and $16bn for onshore and offshore losses.

AIR Worldwide Corporation estimates that insured losses to onshore properties in the U.S. from Hurricane Ike are between $8 billion and $12 billion, with an expected loss of $10 billion.