Insured losses from Hurricane Harvey could reach US$2.3bn - AIR

Cat modelling firm AIR Worldwide estimates that industry insured losses resulting from Hurricane Harvey’s winds and storm surge in Texas could reach US$2.3bn, without taking account of the impact of the ongoing torrential rain and catastrophic flooding from Hurricane Harvey’s unprecedented precipitation.

Hurricane Harvey came ashore in Texas on 25th August as the strongest hurricane to make landfall in the United States since 2004, and the first major hurricane to make landfall with at least Category 3 intensity since 2005. Harvey made landfall as a Cat 4 cyclone, bringing extreme wind gusts, storm surge, isolated tornadoes and prolific rainfall.

At least six people were killed and many others were injured before the storm slowed to a virtual standstill across east-central Texas. Catastrophic flooding across a broad section of eastern Texas was recorded, with southern Louisiana also seeing floods.

“As devastating as the wind damage was in Rockport and surrounding towns, flooding from Harvey’s torrential rains has had the greatest impact,” said Dr. Eric Uhlhorn, principal scientist at AIR Worldwide. “With a lack of large-scale atmospheric steering, Harvey's motion was stalled resulting in extremely heavy and continuous tropical rainfall in a concentrated area. Harvey has already unleashed catastrophic and unprecedented flooding in southeastern Texas, and these conditions are expected to last for several more days. Louisiana is already experiencing heavy rainfall; the flood threat there will likely spread eastward once Harvey begins its northeastward path toward Houston.”

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