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Early Lili estimates around $600 million: AIR update


October 4, 2002   by Canadian Underwriter


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An early update on Hurricane Lili’s impact on Louisiana suggests that losses with be in the billions. An alert from AIR Worldwide Corp. suggests that wind damage from the category 2 hurricane alone could reach US$600 million.
The AIR tropical cyclone team had originally predicted losses of US$2 billion, but fortunately Lili weakened in force before making landfall south of Lafayett, Louisiana Thursday morning. Originally Lili was a category 4 hurricane that ravaged Mexico earlier in the week.
Another factor contributing to lower losses is Lili’s location the storm touched down in a sparsely populated stretch of coast near Marsh Island, in the western part of Vermillion Bay.
The storm is expected to weaken as it heads further inland, but AIR cautions that a worsening of the hurricane, or a change in direction, could lead to a higher loss tally. The estimate also does not include flood losses.


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