AIR Worldwide: Jeanne Costs at $5 to $9 Billion

AIR Worldwide estimates that insured losses from Hurricane Jeanne will fall between $5 billion and $9 billion. This estimate was calculated by AIR Tropical Cyclone Model and is based on data provided by the National Hurricane Center.

Hurricane Jeanne made landfall as a Category 3 storm late Saturday night. Jeanne’s landfall point and track across Florida was very similar to that of Hurricane Frances, which damaged a large swath of the state almost three weeks ago. While a more intense hurricane, Jeanne was not as large or as slow moving as Frances and will likely result in similar insured losses.

Given the wind speeds at landfall there will likely be structural damage, especially to residential buildings and mobile homes. Damage to roofs is likely to be extensive. In addition, commercial structures are likely to have suffered roof, cladding and window damage. Damage to automobiles from flooding can also be expected.

AIR will continue to monitor the track of Jeanne and will dispatch a survey team to areas affected by Hurricane Jeanne this week.