Karen Clark & Co.: Insured Loss from Nicholas Likely Near $950M
Catastrophe risk modeling firm Karen Clark & Co. estimates that the insured loss from Hurricane Nicholas will come in at around $950 million.
KCC said its estimate is based on its high-resolution KCC US Hurricane Reference Model and includes the privately insured damage to residential, commercial, and industrial properties and automobiles.
Nicholas made landfall on Sept. 14 at 1:30 am as a Category 1 hurricane near Sargent Beach, Texas, with maximum sustained winds of 75 mph. The storm intensified from tropical storm status just prior to landfall and unexpectedly shifted about 50 miles to the east. It was the 14th named storm and the sixth hurricane of the 2021 Atlantic hurricane season.
Shortly after landfall, Nicholas weakened to tropical storm strength as it moved further inland across eastern Texas. By 7 pm on Sept. 14, Nicholas had transitioned to a tropical depression. The storm made an eastward turn over Louisiana and eventually dissipated.
Hurricane-force winds were isolated to coastal areas, and most wind impacts were from tropical storm force winds. In the Bay City area near the landfall point, there were reports of structural roof damage, damage to exterior walls, and siding damage.
Further inland, most impacts included low-level wind damage with more significant damage from downed trees. More than 500,000 people were left without power as a result of high winds and downed trees knocking down powerlines.
Source: KCC