fbpx
Tuesday, 11 August 2020 21:31

Hurricane Isaias Insured Losses Estimated to Top $4.2B in U.S. and Caribbean

Written by Danielle Ling, PropertyCasualty360

Index

Early insured loss estimates for Hurricane Isaias are in days after the storm rocked the East Coast, knocking out power for millions and creating significant property damage from the Carolinas to New York.

Isaias became the second hurricane of the season to make landfall in the U.S., touching down Aug. 3 in Ocean Isle Beach, NC, after hitting the Caribbean. Isais previously made landfall in the Dominican Republic as a tropical storm before hitting the Bahamas as a hurricane.

 

On Aug. 10, Karen Clark & Company (KCC) issued an early insured loss estimate for Hurricane Isaias, evaluating losses in both the U.S. and the Caribbean. Based on its hurricane reference models, KCC estimates the insured loss from Hurricane Isaias will be around $4 billion in the U.S. and $200 million in the Caribbean.

 

This estimate includes the privately insured wind and storm surge damage to residential, commercial and industrial properties and automobiles, KCC says and does not include NFIP losses.

 

Isaias created havoc all along the Atlantic coast last week. Strong winds knocked out power for over 3 million residents, leaving millions in New York and New Jersey in the dark for almost a week.

 

The Category 1 storm made landfall in North Carolina on Aug. 3 with maximum sustained winds of 85 mph, bringing torrential rains, storm surge, damaging winds and tornadoes.


Previous Page Read More »

Read 612 times