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CoreLogic: Hurricane Florence Caused Between $20 Billion And $30 Billion In Loss

Irvine-based property information provider CoreLogic estimates losses from Hurricane Florence hitting properties in North Carolina, South Carolina, and Virginia at between $19 billion and $28.5 billion, including both residential and commercial properties, storm surge and inland flooding, plus wind losses. According to CoreLogic, the losses covered by the losses covered by the National Flood Insurance Program (NFIP) is estimated to be between $2 billion and $5 billion, and insured losses covered by private insurers is less than $5 billion. The hurricane disaster--which continues even until today, as floodwaters continue to rise across North Carolina from the heavy rainfall from the storm--came mostly from extremely heavy rainfall which occurred due to the storm's very slow as it reached land even as a Category 1 hurricane. Image: damage in Hanchey's Store, NC via NOAA imagery.