KCC Estimates U.S. Insured Losses from Hurricane Nate Could Reach $500M

Based on high resolution wind and storm surge models, Karen Clark & Company (KCC) has estimated that the insured loss in the U.S. from Hurricane Nate will be close to $500 million.

KCC’s modeled loss estimates include insured wind and storm surge losses to residential, commercial and industrial properties and autos.

Hurricane Nate formed as a tropical depression on October 4, 2017, and was upgraded to a tropical storm the next day, according to a Hurricane Nate Flash Estimate from KCC. The tropical storm was the cause of extensive flooding in Nicaragua and Costa Rica before being upgraded to a Category 1 hurricane on October 6, 2017.

Hurricane Nate’s expected intensification to a Category 2 intensity before making landfall did not materialize. It eventually made landfall near Biloxi, Miss., as a Category 1 hurricane with peak winds of 85 mph on October 8, 2017, and dissipated rapidly after making landfall.

Source: Karen Clark & Company