$16 Billion to $24 Billion in Insured and Uninsured Flood Losses in the Northeast from Tropical Storm Ida, CoreLogic Estimates
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, released additional loss estimates for Hurricane Ida, following its initial release estimating between $27 billion and $40 billion in insured and uninsured losses from wind, storm surge and inland flooding in Louisiana and Mississippi. According to this new analysis, specifically for the U.S. Northeast, subsequent Tropical Storm Ida caused an estimated $16 billion to $24 billion in insured and uninsured inland flood losses to residential and commercial properties.
“Given the prevalence of multifamily housing and below-ground structures in these areas, we’ll see more extreme interior content damages than we typically see in southern coastal areas,” said Shelly Yerkes, senior leader, insurance solutions at CoreLogic. “For example, many of the heating, ventilation and air conditioning systems in New York City buildings are in the basements, so contents damage should be substantial.”