Dean losses could reach $3 billion: EQECAT

Oakland, Calif.-based risk modelling firm EQECAT Inc. has said in a statement that insured losses from Hurricane Dean could range between $1.5 billion and $3 billion with the majority of losses in Jamaica.

Based on current information provided by the National Oceanic and Atmospheric Administration, the estimate includes damage to commercial and residential fixed structures as well as losses due to business interruption.

AIR Worldwide Corp., the Boston-based risk modeling firm, estimates that two thirds of the insured value of Jamaica's properties is located in the parishes around Kingston.