Hurricane Isaias to drive $4.2bn insured losses: KCC

Insured losses from Hurricane Isaias are expected to be around $4 billion in the US and $200 million in the Caribbean, according to catastrophe modelling firm Karen Clark & Company (KCC).

The estimate includes privately insured wind and storm surge damage to residential, commercial, and industrial properties and automobiles.

The estimates do not include the US National Flood Insurance Program (NFIP) losses.

Isaias made three landfalls in the Caribbean, one in the Dominican Republic as a tropical storm and two in the Bahamas as a hurricane between July 28 to August 1. Isaias brought damaging winds that resulted in roof damage and structural damage from downed trees in commercial and residential buildings.

In the US, a stronger than usual jet stream over resulted in a much slower decay rate, and nearly every coastal state from South Carolina to Vermont experienced high winds. Over three million customers along the Atlantic coast were without power following Isaias. As the storm progressed north, the forward speed increased, and Isaias passed into Canada early in the morning on August 5.

Isaias was the second US landfalling storm of the 2020 Atlantic Hurricane season, and is the earliest ninth named storm on record.