Tsunami insured losses estimated at US$4 billion

Insured losses from the December 26, 2004 Asian tsunami have been estimated at less than US$4 billion by U.S. risk modeling firm Risk Management Solutions (RMS).The majority of claims will be for property damage, including homes, vehicles, boats and ships, commercial factories, hotels and resorts. This will probably comprise US$2.5-$3 billion of the total loss figure, RMS predicts.There will likely be less than US$1 billion in life and health claims, mainly from foreign tourists as local residents often will not have such coverage. And about US$100 million will come from travel insurance, some from cancellations and lost belongings, but mostly for injured travelers.