Boston-based disaster modeling firm AIR Worldwide is estimating insured losses from Hurricane Irene to onshore properties nationwide will be between $3 billion and $6 billion.

AIR estimates include wind and storm surge damage to onshore residential, commercial and industrial properties and their contents, automobiles and "time element coverage" – additional living expenses for residential properties and business interruption for commercial properties.

AIR’s estimates do not include: Losses resulting from the compromise of existing defenses (e.g., levees, flood walls); losses to uninsured properties; losses to infrastructure; losses from extra-contractual obligations; losses from hazardous waste cleanup, vandalism or civil commotion whether directly or indirectly caused by the event; and losses for U.S. offshore assets and non-U.S. property, which AIR estimates separately.

According to AIR, Irene brought more than a foot of rain to some parts of the Atlantic coast from North Carolina to Maine, and flooding remains a concern. Officials continue to closely monitor river levels, which are receding slowly. Along the Atlantic coast and into New England, the flooding was exacerbated by record or near-record rainfall in August, which created wet soil conditions and had raised water levels in major rivers, the company said. Many rivers and streams have overtopped their banks and will remain high as runoff continues. At least 10 rivers or creeks are at or above record flood levels, with most centered over eastern New York and Vermont.

Irene first made U.S. landfall Saturday morning in North Carolina as a Category 1 hurricane, then paralleled the East Coast, and slammed into Little Egg Inlet, N. J. on Sunday morning as a weakened storm, but still at Category 1 status as reported by the NHC. Irene made a third landfall on Coney Island, N.Y., at tropical storm strength a few hours later.