Estimates put US damage and losses from Francine at $9 billion, with $1.5 billion in insured losses

A preliminary estimate shows that the total damage and economic loss caused by Hurricane Francine in the US is expected to be $9 billion.

The effects of the storm continue to be felt, and some areas have yet to report full information on damage, injuries and other impacts, AccuWeather’s preliminary estimate shows.

Catastrophe modeling and property data company CoreLogic estimates insured losses from Francine to reach $1.5 billion.

“Francine is the third hurricane to hit the Gulf Coast this year, but this is the first hurricane to cause widespread disruption to the offshore oil and gas industry in recent years. Our preliminary estimate takes into account the cost of offshore rig evacuations and service disruptions,” said AccuWeather Chief Meteorologist Jon Porter.

Francine was a short-lived but impactful hurricane that hit New Orleans with persistent rain and 80 mph wind gusts that caused damage and knocked out power to hundreds of thousands.

Francine then made its way north through Alabama on Thursday, bringing heavy rain and strong winds and knocking hundreds of thousands of people without power from the Gulf Coast to the north. Winds gusting up to 96 mph were measured near where the storm made landfall with gusts of 60-80 mph in New Orleans, according to AccuWeather.

Ahead of Francine, storm surge flooding affected the central Gulf Coast, with the worst in southern Louisiana, where a surge of more than 6 feet was measured. The storm also shut down energy platforms in an area with a high density of energy platforms in the central Gulf of Mexico, which will reduce oil production and could lead to higher gas prices for a while, according to AccuWeather.

The weather service’s estimate takes into account damage to homes, businesses, infrastructure, facilities, roads and vehicles, as well as power outages, resulting in food spoilage and disruption of medical care, and reflects damage that has already occurred and damage expected in the next two days as Tropical Storm Francine moves into the western Tennessee Valley. As a tropical storm, AccuWeather expects the system to bring flooding, the risk of severe thunderstorms and tornadoes.

CoreLogic’s estimate notes that “losses from Hurricane Francine are expected to be manageable for primary carriers” because wind damage was limited by the sparsely populated coastal region with a high degree of resilience.

The parishes of St. Mary, Terrebonne, Lafourche and Ascencion are expected to be hardest hit by wind and flooding. Wind damage to residential property is the leading modeled loss driver, according to CoreLogic.

By comparison, Hurricane Debby was responsible for $28 billion in total damage and economic loss in August, while Hurricane Beryl brought between $28 billion and $32 billion in total damage and economic loss in July, according to AccuWeather.