"Catastrophe modelers estimate the insured losses from Hurricane Dolly will be less than $1 billion. Newark, Calif.-based Risk Management Solutions Inc. said Thursday that insured losses from the Category 2 hurricane that struck southern Texas near the Mexican border on Wednesday would not exceed $750 million. RMS noted that the hurricane did not cause significant damage to offshore oil platforms. Boston-based AIR Worldwide Corp. estimated late Wednesday that while storm losses could range from $300 million to $1.2 billion, it expected losses to total about $600 million. AIR, a unit of the Insurance Services Office Inc., estimated insured losses in Mexico to be less than one-quarter of U.S. insured losses. "(Source: businessinsurance.com) |