AIR Worldwide Sees Ivan Costing $3 to $6 Billion

AIR Worldwide estimates insured losses in the United States from Hurricane Ivan will be between $3 billion to $6 billion. Losses in the Caribbean will likely add another $1 billion to $2.5 billion to the total.

Hurricane Ivan was large and powerful, making landfall near Gulf Shores, Ala. as a strong Category 3 storm with hurricane strength winds extending out more than 100 miles from the center.

The most extensive damage will reportedly be near the center and to the east of the track from Mobile, Ala. to Pensacola, Fla.

AIR expects significant damage to mobile homes, roofs and light commercial structures.