Risk Management Solutions (RMS) has estimated that insured losses from Hurricane Rita are likely to range from $4 to $7bn.
The RMS estimate said that $3bn to $5bn of losses would be from onshore damage resulting from wind, storm surge, and rainfall-related flood hazards. A further $1bn to $2bn in losses would be the result of offshore platform damage and loss of production.
RMS said the preliminary estimate excluded the New Orleans flooding situation that erupted over the weekend.