Ivan Losses Will Be in the Billions

Analysts estimate insured losses from Hurricane Ivan will hit $4 billion up to $10 billion.

Earlier estimates which reached up to $20 billion have been lowered since the storm’s eye did not directly hit Mobile, Alabama as originally projected.

Ivan’s reach into New Orleans, which initially was expected to be battered intensely, was minimal. That also reduced the cost of the damage projections.

The projections do not include any flood insurance claims or non-insured losses.