Friday, July 19, 2019

CoreLogic: Between $500M and $900M In Losses From Hurricane Barry

Irvine-based CoreLogic, a provider of property information and data analytics, says that it estimates a total of between $500M and $900M in losses from Hurricane Barry, including both residential and commercial flood and wind losses. CoreLogic said it estimates flood loss for residential and commercial properties in Louisiana is estimated to be between $200 million and $400 million which includes both storm surge and inland flooding, with total insured flood and wind losses--excluding National Flood Insurance Program (NFIP) losses at between $300M and $600M. CoreLogic said its analysis is based on the rainfall for 72 hours ending on Monday, July 15, and does not include the "separate weather system" in the days leading up to Hurricane Barry's landfall. That earlier weather system, which was triggered by Barry, led to a dramatic flash flood emergency in New Orleans, which was mostly spared of major damage when Barry hit farther to the west.