CoreLogic Raises Hurricane Helene Total Insured Loss Estimate to $10.5B-$17.5B

The total insured loss from Hurricane Helene is now estimated at between $10.5 billion and $17.5 billion — a figure that continues to rise as more damage is assessed, prompting catastrophe modelers to continually revise estimates in above.

Friday’s estimate from CoreLogic is up significantly from the modeler’s previous estimate of $3 billion to $6 billion in insured losses as the storm was about to hit. At the same time, an opinion from Gallagher Re put estimates of potential losses between $3 billion and $6 billion.

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Karen Clark & ​​Co., a storm modeling and analysis firm, earlier this week estimated that privately insured losses from Hurricane Helene would be about $6.4 billion from wind, storm surge and inland flooding in nine states.

CoreLogic’s estimate includes wind losses as well as insured and uninsured storm losses and inland flood losses for residential and commercial properties in 16 states.

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CoreLogic estimates total losses from flooding and winds at between $30.5 billion and $47.5 billion.

AccuWeather, which raised its estimate of total damage and economic losses from Hurricane Helene in the US this week, now says losses could be between $225 billion and $250 billion. This was the third forecast increase from the weather service. Less than a week ago, AccuWeather raised its estimate of total damage and economic losses from Hurricane Helene to between $145 billion and $160 billion.

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“The aftermath of Hurricane Helene has highlighted the importance of insurance, particularly for flood damage, both in coastal states and in those further inland, where hurricane and flood risk may be perceived to be lower,” it said. shows in an update to Hazard HQ Command Central from CoreLogic. “Category 4 hurricane brings damaging winds and record-setting storm surge to Florida coast.”

Despite the storm making landfall near Florida’s Big Bend region, stormwater flooding affected property along the state’s entire Gulf Coast. Closer to landfall, hurricane-force winds of over 90 mph damaged homes in Perry, Florida and in Valdosta, Georgia,” according to CoreLogic.

“Even away from the coast, heavy and continuous rain fell over a huge portion of the southeastern US, with notable losses in western North Carolina, South Carolina and Georgia, causing flooding in entire cities,” the update said.