(by Peter Van Bruggen)

The South-eastern U.S., which is expected to be stricken by the Category 5 Hurricane Ivan, can suffer insured damages of about $16 billion, hurricane watchers say.

The hurricane losses are estimated to be between $3 billion and $16 billion in case it reaches U.S. the hurricane has already hit the Cayman Islands and the islands of Jamaica and Grenada with the damage exceeding $2 billion.

Ivan is estimated to hit U.S. on Wednesday. The total of hurricane losses may fluctuate, modelers say.