Hurricane Harvey
Hurricane Harvey, which made its first landfall in Texas on August 25, 2017 became the second costliest natural disaster in United States history. Unprecedented amounts of rainfall, which were recorded across broad sections of southeast Texas and southwest Louisiana, caused catastrophic flooding with far-reaching impacts on several sectors of the economy. Total economic losses were in the vicinity of USD100 billion, while public and private insurers bore 30 percent of the cost.
Hurricane Irma
Hurricane Irma became one of the most significant storms ever recorded in the Atlantic Ocean basin and brought major financial and humanitarian impact to the Caribbean and the United States. In its wake, this record-breaking hurricane left widespread devastation and human tragedy across the hardest-hit regions. The worst-affected areas included parts of the Caribbean Islands and the U.S. mainland. Total economic losses were roughly estimated at USD55 billion. Public and private insurance entities were expected to cover approximately half of this total – USD27 billion.
Hurricane Maria
Hurricane Maria became the costliest hurricane to track across the Caribbean on record, and the second-costliest storm of the 2017 Atlantic Hurricane Season. The powerful system left catastrophic damage and human impact on the island of Puerto Rico and elsewhere in the Caribbean, including Dominica and the U.S. Virgin Islands. Extended power outages and destroyed infrastructure in Puerto Rico led to significant business interruption. The total economic cost of Maria was roughly estimated around USD65 billion. Public and private insurers cited payouts around USD27 billion.
|
