RMS: Hurricane Delta Losses Could Reach $4 Billion
Catastrophe risk modeler RMS reports that Hurricane Delta, which made landfall near Creole, Louisiana, on Oct. 9 as a mid-Category 2 storm, could result in total onshore U.S. insured losses of between $2 billion and $3.5 billion. The estimate includes wind, storm surge, and inland flood losses across Louisiana, Texas, and Mississippi. The $2 billion to $3.5 billion range includes losses to the National Flood Insurance Program of between $200 million and $400 million. Insured losses for Mexico, according to RMS, amount to less than $500 million. In total, the RMS estimate includes a 15 percent reduction in insured onshore losses as a result of the cumulative impacts of Hurricane Laura, which hit many of the same areas just six weeks ago.