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Catastrophe risk modeller Karen Clark & Company (KCC) has estimated that the insured loss from Hurricane Barry will be close to $300 million.
KCC said that its estimate includes the privately insured wind and storm surge damage to residential, commercial, and industrial properties and automobiles. However, it does not include NFIP losses.
Hurricane Barry came ashore on Saturday 13 July bringing intense rain Flooding hit Louisiana and parts of Mississippi on Sunday 14 July.
The US National Hurricane Center said Barry made landfall as a hurricane, but due to difficulty pinpointing its centre the exact times and locations were unconfirmed.
Once on land the weather system began to lose strength and was downgraded to a Tropical Depression over Northwestern Louisiana on Sunday, however, it was still predicted to dump up to 20 inches of rain. Swollen rivers breached levees in some areas and strong winds caused property damage, while an estimated 100,000 people were without power.
According to KCC the insured losses for Hurricane Barry result from an accumulation of small losses over a large area. Widespread isolated instances of damage caused by fallen trees occurred throughout southern Louisiana. Additional damage occurred close to the landfall point, including roof damage to residential buildings and more significant damage to small structures.
Hurricane Barry, Louisiana, loss, estimates, KCC