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The Category 1 storm is currently passing by Cape Lookout in North Carolina recording maximum sustained winds of 90mph.
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Karen Clark & Company said Bahamian losses from Hurricane Dorian will reach $7bn including both insured and uninsured damages. -
Widespread data theft from an email provider ranked as the most likely significant loss scenario in a report by the broker and analytics platform.
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The hurricane is forecast to become a post-tropical cyclone with hurricane-force winds as it approaches Nova Scotia late on Saturday.
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Flooding from storm surge remains a risk for the Carolinas.
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The storm’s track was not a worse-case scenario for the islands as it avoided New Providence.
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Hurricane data provider Tropical Storm Risk predicts there is an 85 percent chance of the US mainland being hit by Category 1 hurricane conditions in the next 21 hours.
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Both North and South Carolina remain within the cone of probability for Dorian’s track but landfall is not projected.
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Hurricane-force winds now extend outward up to 60 miles from the centre, up from 45 miles yesterday.
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The storm had been sitting over Grand Bahama but is now expected to skirt Florida’s east coast later today.
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Devastating winds and storm surge will continue to affect the northern Bahamas for several more hours, the National Hurricane Center said.
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Previous Category 3-4 storms passing near Grand Bahama and Abaco caused up to $1.3bn of damage in today’s prices, according to the modelling agency.
