Earl’s sideswipe spares the Carolinas

From Business Insurance:

In a statement, Oakland, Calif.-based EQECAT Inc. said it did not expect insured losses in North Carolina and Virginia to reach $100 million.

Separately, Boston-based AIR Worldwide Corp. said it did not expect “significant insured losses” in the two states from the storm. It noted that there had been reports of flooding along North Carolina’s Outer Banks as well as debris in roads.

And Earl approaches Boston as a Category 1 – not a fun evening up there, but far from what could have happened.

The big news apparently was in the Far East:

Also during the week, Typhoon Kimpasu hit South Korea. EQECAT estimated insured damage in the nation could range from $500 million to $2 billion.

Update: More on Typhoon Kimpasu here.

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