Chicago — The insurance industry is starting to get a sense of the damage done by Hurricane Ike to Southeast Texas.
Boston-based catastrophe risk modeling firm AIR Worldwide Corp. estimates that insured losses to onshore properties in the United States from the storm are between $8 billion and $12 billion, with an expected loss of $10 billion. Hurricane Ike made landfall at Galveston, Texas at 3:10 am EDT, September 13, as a strong Category 2 hurricane. Maximum sustained winds at landfall were 110 mph, just shy of Category 3 on the Saffir-Simpson intensity scale. Early damage reports include the destruction of several buildings lining the seawall. Several house fires in Galveston burned unchecked as firefighters were prevented from reaching them because of flooded streets and homes across the island are reported to have been damaged by Ike's winds.
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