Verisk Estimates Insured Losses for Hurricane Melissa
Verisk estimates that insured losses for Hurricane Melissa will range from $2.2 billion to $4.2 billion.
The Extreme Event Solutions group at Verisk, a leading global data analytics and technology provider, made this estimate based on the hurricane's impact on onshore property in Jamaica.
Meteorological History of Melissa
Melissa became a hurricane on October 21, and exceptionally warm sea surface temperatures and low wind shear led to rapid intensification on October 25.
Hurricane Melissa set a record as the most intense hurricane to make landfall in Jamaica and tied for the most intense hurricane landfall globally since recordkeeping began in 1851.
The industry loss range includes estimated wind and precipitation-induced flood damage from Melissa's track across Jamaica, with most of the loss attributed to wind.
Author's summary: Verisk estimates Hurricane Melissa's insured losses at $2.2-4.2 billion.
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