CoreLogic Estimates $2.5 Billion to $4.0 Billion in Insured Losses from Hurricane Zeta Wind and Storm Surge
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced residential and commercial wind and storm surge loss estimates for Hurricane Zeta. According to this new data analysis, insured wind losses for residential and commercial properties in Louisiana, Mississippi and Alabama are estimated to be between $2.2 billion and $3.5 billion. Insured storm surge losses are estimated to be an additional $0.3 billion to $0.5 billion.
Hurricane Zeta made landfall near Cocodrie, Louisiana, in Terrebonne Parish before directly hitting New Orleans on Wednesday evening, October 28. The storm was a strong Category 2 hurricane with a maximum sustained surface wind speed of 110 miles per hour, just 1 mile per hour below Category 3 intensity. This marks the third hurricane in two months to make landfall in Louisiana. As Hurricane Zeta approached the Louisiana coastline, the storm passed through an area of warm water temperatures and low wind shear, enabling it to strengthen considerably. The storm resulted in at least six deaths and hundreds of downed trees and power lines. A 9-foot surge was measured in the Bay of St. Louis, Mississippi.