28 July 2020Insurance

Insured losses for Hurricane Hanna will be in millions, says KCC

Insured losses from Hurricane Hanna, which hit Padre Island, Texas, on July 25, 2020, will be close to $350 million, according to cat modelling agency KCC.

Hanna, a category 1 hurricane, was the first to make US landfall for the 2020 North Atlantic hurricane season and caused damage with sustained winds of 90 mph.

Low levels of wind damage were seen across southern Texas, while a low to moderate storm surge impacted coastal areas from the southern Texas border to Port Lavaca.

The impact left more than 200,000 people without power and low to moderate levels of wind damage were reported throughout the Rio Grande Valley. Damage to signage and lightweight structures, such as gas station pavilions and marinas, was relatively common, KCC said. Roof and siding damage was also seen as well as rare instances of more severe structural damage.

Corpus Christi, Port Mansfield, McAllen, and other coastal towns all experienced storm surge flooding to residential and commercial buildings.

KCC said its estimate includes the privately insured wind and storm surge damage to residential, commercial, and industrial properties and automobiles. It does not include National Flood Insurance Program losses.

Hanna formed as a tropical storm on July 23rd as it crossed the Gulf of Mexico, it tracked northwestward as it approached the Texas coast over the next few days. Warm sea surface temperatures and a low wind shear environment allowed the storm to reach hurricane strength.

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11 August 2020   The estimates does not include losses incurred by the US National Flood Insurance Program (NFIP).