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Bermuda hurricane cost insurers less than $100M: Modeler

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HAMILTON, Bermuda—Hurricane Igor battered Bermuda with high winds leaving widespread but mostly minor damage that a catastrophe modeling company estimates will cost insurers less than $100 million.

Bermuda’s strict building code helped hold down insured losses, according to AIR Worldwide Corp. The Boston-based catastrophe modeler said local reports described widespread flooding that left Hamilton’s streets covered in several inches of water and low-lying areas with several feet of water.

The causeway to Bermuda’s airport suffered minor damage and was reopened Monday. The causeway was heavily damaged by Hurricane Fabian in 2003.

AIR said the center of the storm passed about 40 miles west of the island as a Category 1 hurricane with sustained winds of 75 mph.

Meanwhile, Typhoon Fanapi made landfall in China’s Fujian Province early Monday. AIR said it does not expect significant insured losses from the storm.

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