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Tuesday September 07, 03:15
Frances damage accounts for $3-$6 billion
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FashionGates.com
(by Peter Van Bruggen)
The expected losses from Hurricane Frances hit Florida lessened almost twofold, calming the insurance companies.
Storm’s expected damage now is accounted for $3 billion to $6 billion instead of earlier anticipated $2 billion to $10 billion, specialists say. These figures are smaller than the one of Charley’s damage of $6.8 billion. "We expect losses to be less than that experienced with Charley," said Kyle Beatty, an RMS meteorologist.
Flooding caused by Frances will mainly be covered by the National Flood Insurance program, a division of the U.S. government’s Federal Emergency Management Agency.
Actual damage form Frances will be assessed no earlier than by the end of the week, insurers say.
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07 Sep 2004 04:17 AM
Florida life restarts after Frances
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