NEWS IN BRIEF

Insured losses from hurricane Isaac... will likely be in a range of $700m to $2bn, according to catastrophe modeller AIR Worldwide. AIR said that its estimate includes wind and storm-surge damage to onshore residential, commercial and industrial properties and their contents, as well damages to automobiles and outlays for policyholder living expenses. The firm does not see significant losses suffered by offshore oil and gas rigs in the Gulf of Mexico.