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EQECAT Estimates $6 to $10 Billion Losses from Hurricane Charley

August 18, 2004

EQECAT estimates that Hurricane Charley has caused industry insured losses in the range of $6 to $10 billion in Florida. This estimate is based on an analysis of this event on the EQECAT EQESTOCK insurance inventory. The hurricane made landfall near Punta Gorda (North of Fort Myers) and primarily affected Charlotte and Lee counties (accounting for over 60 percent of the expected losses).

The event ID #26684 in the EQECAT North Atlantic stochastic storm set best represents this event. Users of the EQECAT USWind desktop application can continue to analyze the event by following the instructions at the EQECAT Hurricane Activity site. These pages have been updated with details from the date of the event and will continue to be updated.

EQECAT sent a team of wind engineers headed by Dr. James R. Bailey, Ph.D., P.E. to survey the damage in southwest and central Florida. The team will be preparing a detailed report on the event's damage. Upon completion, the report will be made available to all our customers.