According to the catastrophe risk modeling firm, Karen Clark & Company, the total insured losses from Hurricane Hanna could reach up to $350 million.
What does the estimate include?
Karen Clark & Company reported the estimate includes the privately insured wind and storm surge damage to residential, commercial/industrial properties and automobiles. The estimate does not include the National Flood Insurance Program losses.
Hurricane Hanna Damages
Low to moderate levels of wind damage was sustained throughout the Rio Grande Valley. Damage to signage and lightweight structures, such as gas station pavilions and marinas, were relatively common as well.
Other forms of damage included roof and siding damage with rare instances of more severe structural damage. Corpus Christi, Port Mansfield, McAllen, and other coastal towns all experienced storm surge flooding to residential and commercial buildings.
To read about Hurricane Hanna, check out our blog, “Hurricane Hanna Hits Southern Texas”.
To check out the original article from the Insurance Journal, click here.