As in dropped to $70 Million from $1.6 Billion
first saw it on wikipedia, post storm report update confirms
Ophelias Damage Total Dropped...... Big Time!
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Jim Cantore
Ophelias Damage Total Dropped...... Big Time!
Last edited by Jim Cantore on Thu Mar 09, 2006 9:34 pm, edited 1 time in total.
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Colby
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Jim Cantore
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Jim Cantore
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Derek Ortt
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The $1.6B was based on an pre-assessment insurance estimate of $800 million. It turned out that insurance claims were really only about $35 million. Since insured damage is usually about half of total damage, that is where the $70M comes from. The difference should kill any thoughts of the name being retired...
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HURAKAN
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COPY & PASTE DIRECTLY FROM THE NHC OPHELIA'S FINAL REPORT:
The American Insurance Services Group estimates the property damage from Ophelia at $35 million. Applying a doubling of this to cover damage to uninsured property yields a total damage estimate of $70 million. It should be noted that the Insurance Information Institute originally provided an estimate of $800 million in damage, which was the basis for the $1.6 billion reported in the annual summary released by the Tropical Prediction Center in December. This figure was an estimate of damage by a model, not an actual report of damage claims.
Don't get confuse, the two amounts are very different but there has been no change.
The American Insurance Services Group estimates the property damage from Ophelia at $35 million. Applying a doubling of this to cover damage to uninsured property yields a total damage estimate of $70 million. It should be noted that the Insurance Information Institute originally provided an estimate of $800 million in damage, which was the basis for the $1.6 billion reported in the annual summary released by the Tropical Prediction Center in December. This figure was an estimate of damage by a model, not an actual report of damage claims.
Don't get confuse, the two amounts are very different but there has been no change.
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Merovingian wrote:Yes, I hope they've got a source for that.JtSmarts wrote:Derek Ortt wrote:damage is 70 million according to the NHC report. Not sure where Wiki is getting its info from
You can never be sure about Wikipedia, as any one can edit the information there.
They do, it was reported early on that Ophelia did that much damage. Later assessments proved that wrong. As Hurakan stated, a model was used to guestimate damage estimates and the model was wrong. Unfortunately the model's incorrect figures were reported in the press, while the correct assessment more or less has not.
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