Asian Surveying & Mapping
Breaking News
Launch of Australia’s 1st orbital rocket, Gilmour Space’s Eris-1, delayed again
Update for 6:15 p.m. ET on July 1: Gilmour Space...
SAASST, UAE Space Agency strengthen scientific partnership
SHARJAH- Prof. Hamid M.K. Al Naimiy, Director of the...
Shubhanshu Shukla to speak to students and ISRO scientists this Friday
Indian astronaut Shubhanshu Shukla will interact with school students...
ISRO hands over 10 advanced technologies to Indian firms in major push for space commercialisation
The Indian Space Research Organisation (ISRO) has transferred ten...
DIGIPIN Launched: India Embraces Geospatial Precision in Digital Addressing
IIT Hyderabad (IITH), in partnership with the Department of...
HAL to build, market Isro’s SSLV in landmark deal
New Delhi, Jun 20: In a historic move for...
Taiwan developing space capabilities for all-weather imaging
TAIPEI (TVBS News) — Taiwan is advancing its space...
Honda hails successful test of reusable rocket as it looks to get into the space business
Tokyo — Japan's second-biggest carmaker, Honda, has successfully tested...
China’s space program provides larger platform for broader international cooperation
BEIJING -- Experts from China's manned space program said...
India To Launch $1.5 Billion Joint Earth Mission With NASA In July
National Aeronautics and Space Administration (NASA) and the Indian...
  • Sep 5, 2017
  • Comments Off on CoreLogic Analysis Estimates Total Residential Insured and Uninsured Flood Loss for Hurricane Harvey Between $25 Billion and $37 Billion
  • Corporate, News
  • 644 Views

September 5th, 2017
CoreLogic Analysis Estimates Total Residential Insured and Uninsured Flood Loss for Hurricane Harvey Between $25 Billion and $37 Billion

IRVINE, Calif. – CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced preliminary residential loss estimates for Hurricane Harvey. According to the data analysis, insured flood loss for homes in the 70-county area in Texas and Louisiana affected by the storm is estimated to be between $6.5 billion and $9.5 billion, which includes inland, flash and storm surge flooding. An additional estimated $1 billion to $2 billion in insured loss is attributed to damage from wind. Residential uninsured flood loss for the same area is estimated to be between $18 billion and $27 billion. As a result, an estimated 70 percent of flood damage from Hurricane Harvey is not covered by any insurance.

Data Highlights:

  • Insured flood loss covered by the National Flood Insurance Program (NFIP) is estimated at $6 billion to $9 billion.
    • This includes inland, flash and storm surge flooding.
    • More than 98 percent of residential flood insurance in the U.S. is provided through the NFIP.
  • Insured flood loss from private insurers is estimated at less than $0.5 billion.
  • Uninsured flood loss, which represents damage from storm surge and inland flooding not covered by any insurance policies, is estimated at $18 billion to $27 billion.
  • Insured loss from wind damage is estimated at $1 billion to $2 billion.

Loss Estimates from Hurricane Harvey

CoreLogic Analysis Flood Loss
Total Flood Loss $25-37 B
Estimated Percent
Uninsured
70%
Insured by NFIP  $6-9 B
Insured by Private Insurers  <$0.5 B
Uninsured  $18-27 B
Total Insured Flood Loss  $6.5-9.5 B Total Uninsured Flood Loss  $18-27 B Total Insured Loss Including Flood and Wind  $7.5-11.5 B

 

Source: CoreLogic August 2017

Insured loss represents the amount insurers will pay to cover damage and loss.

This analysis includes residential homes, including contents, and does not include commercial, loss of business or other broader economic loss from the storm.

About CoreLogic

CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit  www.corelogic.com.