Catastrophe modeling firm AIR Worldwide estimates that total damage to residential, commercial, and agricultural properties from Super Typhoon Haiyan will range… between USD 6.5 billion and USD 14.5 billion. However, because insurance penetration in the region is relatively low, AIR estimates that insured losses will range between USD 300 million and USD 700 million. “Super Typhoon Haiyan made landfall on the southern tip of Samar Island early morning local time on November 8 as one of the most powerful tropical cyclones in modern record-keeping,” said Dr. Peter Sousounis, senior principal…
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