Hurricane Isaias Insured Losses $4 Billion
According to a report released on August 10 by risk modeling firm Karen Clark & Co., insured losses from Hurricane Isaias are anticipated to reach $4 billion. Hurricane Isaias made landfall in North Carolina on August 3 with maximum sustained winds of 85 miles per hour, equivalent to a Category 1 hurricane. The storm then moved into Pennsylvania, New Jersey and New York, where it was downgraded to a tropical storm. Isaias followed Hurricane Hanna’s landfall nine days earlier in South Texas. Insurers, which are dealing with losses from the coronavirus pandemic, also are preparing for what’s expected to be the worst hurricane season since 2005, when Katrina hit the U.S.