Catastrophe risk-modeling firm AIR Worldwide Corp., based in Boston, said 85 percent of Texas' total coastal exposure lies in Ike's' path, with insured property valued at more than $890 billion. - AP
"The worst case scenario would be Ike coming onshore 30 miles west of Galveston, which is further west than currently forecast, but well within the bounds of possibility," said Christine Ziehmann, director of model management at Risk Management Solutions Inc.- AP
CHARLOTTE, N.C. (AP) — As Hurricane Ike churns toward the Texas Gulf Coast, nearly $1 trillion of insured commercial and residential property lies in its path, according to firms that specialize in catastrophes.
The largest concentrations of exposure in Texas are along the northern part of the coast near Houston — an area that contains about one-fifth of the nation's crude-oil refining capacity and more than 2 million people. While high winds and flooding are of concern for inland properties, a hurricane's strength diminishes as it moves inland.
"Hurricane Ike's large windfield will play a major role in the extent of damage it inflicts both offshore, from winds and waves, and onshore from wind and storm surge," said Christine Ziehmann, director of model management at Risk Management Solutions Inc.
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