News Americas, BOSTON, MA, Mon. Aug. 29, 2011: The damage on the Caribbean region from Hurricane Irene could reach as high as US$1.1 billion.
AIR Worldwide, a Boston-based respected provider of risk modeling software and consulting services, estimates that insured losses in the Caribbean from Hurricane Irene will be between US$500 million and US$1.1 billion.
This includes Bahamas, Puerto Rico, Dominican Republic, Turks and Caicos and other Caribbean territories.
AIR expects the Bahamas will account for more than 60 percent of the insured loss – between USD 300 million and USD 700 million.