Residential flood loss US$25-US$37 billion
Analytics firm Corelogic estimates total residential insured and uninsured flood loss from Hurricane Harvey of between US$25 billion and US$37 billion, it said on Friday.
Of that, around US$6.5-US$9.5 billion is estimated to be insured flood loss for homes in the affected areas in Texas and Louisiana.
Corelogic said an estimated 70 percent of flood damage from Harvey is not covered by any insurance.
An additional US$1-US$2 billion in insured losses is attributed to damage from wind.
Corelogic had on Wednesday raised its estimate for insured property losses for wind and storm surge to US$1.5-3 billion, but this estimate did not include flood losses. – Nampa/Reuters
Of that, around US$6.5-US$9.5 billion is estimated to be insured flood loss for homes in the affected areas in Texas and Louisiana.
Corelogic said an estimated 70 percent of flood damage from Harvey is not covered by any insurance.
An additional US$1-US$2 billion in insured losses is attributed to damage from wind.
Corelogic had on Wednesday raised its estimate for insured property losses for wind and storm surge to US$1.5-3 billion, but this estimate did not include flood losses. – Nampa/Reuters
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