Boston-based AIR Worldwide estimated Friday that insured losses in the Caribbean from Hurricane Irene will reach between $500 million and $1.1 billion, with the Bahamas accounting for more than 60 percent of the insured loss.
In the wake of the destruction Hurricane Irene inflicted upon the agriculture sector, currently estimated at some $20 million, the Economic Development Bank has granted an automatic three-month stay on loans held by insured farmers, agency chief Ivonne Otero said Thursday.
Hurricane Irene dealt a $17.8 million blow Puerto Rico’s agriculture as it unleashed its strong wind and dumped inches of rains on the island since Sunday, ripping up or drowning acres of plantains and fruit and vegetable crops, government officials said Tuesday.
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