Wilma rises to $12bn as Beta eyes Americas

By Jonathan Rest

MODELLING firm Risk Management Solutions (RMS) has raised its loss estimate for hurricane Wilma to between $8bn and $12bn, up from the $6bn to $10bn it reported last week, writes Jonathan Rest. RMS said the increase was the result of "further analysis of the wind speeds in the Miami metropolitan area and along the eastern coastline". High-rise commercial buildings in Miami sustained significant damage to windows and cladding, contributing to the insured losses. Widespread power outages continued in parts of Naples and surrounding communities, which will be likely to spread business interruption claims.