CoreLogic: Hurricane Florence Losses Estimated at $3 to $5B

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Posted To: MND NewsWire

Even as Hurricane Florence is pushing unprecedented levels of flood waters into North and South Carolina homes, CoreLogic is issuing estimates regarding the storm's dollar costs. Their analysis shows that insured property losses for both residential and commercial properties will be between $3 and $5 billion. CoreLogic basis its estimates on the National Hurricane Center's 8 a.m. September 13 track of the storm and the cone of uncertainty. Florence made landfall mid-morning on September 14 near New Bern, North Carolina and 250,000 homes in that state are projected to be affected by the hurricane. Losses in North Carolina are estimated to be between $2.5 and $4.5 billion and South Carolina is expected to suffer to the tune of $0.3 to $0.5 billion. This includes wind damage and the storm surge...(read more)

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Source: http://www.mortgagen...

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