Karen Clark & Co. Estimates $350M Insured Loss from Hurricane Hanna

Catastrophe risk modeling firm, Karen Clark & Company (KCC) has estimated the insured loss from Hurricane Hanna, which made landfall on Padre Island, Texas, on July 26, will be close to $350 million, excluding National Flood Insurance Program (NFIP) losses. The estimate is based on the KCC high-resolution US Hurricane Reference Model.

KCC reported the estimate includes the privately insured wind and storm surge damage to residential, commercial and industrial properties and automobiles.

Hanna Highlights

• Hanna was the first hurricane and the fourth US landfalling storm of the 2020 North Atlantic hurricane season
• The Category 1 hurricane made landfall with 90 mph maximum sustained winds on Padre Island, Texas, on July 25 around 4:00 PM CDT
• High winds caused low levels of wind damage across southern Texas, and low to moderate storm surge impacted coastal areas from the southern Texas border to Port Lavaca Meteorological Development Hanna formed as a tropical storm on July 23 as it crossed the Gulf of Mexico.
• Warm sea surface temperatures (SSTs) and a low wind shear environment allowed the storm to reach hurricane strength just before landfall on Padre Island in southern Texas on July 25.

After landfall, the storm traveled southwest and weakened rapidly due to land interaction with mountainous terrain. By July 26, the storm had decayed into a tropical storm as it passed into Mexico.

Storm Impacts

Hurricane Hanna brought high wind speeds to southern Texas and left over 200,000 customers without power.

Low to moderate levels of wind damage was sustained throughout the Rio Grande Valley. Damage to signage and lightweight structures, such as gas station pavilions and marinas, were relatively common.

Other forms of damage included roof and siding damage with rare instances of more severe structural damage. Corpus Christi, Port Mansfield, McAllen, and other coastal towns all experienced storm surge flooding to residential and commercial buildings.

Source: KCC

Related:

• Hanna Pounds South Texas Coast Already Dealing With COVID Surge
• More than 14K Homes Vulnerable to Hanna’s Storm Surge, CoreLogic Says

Topics Catastrophe Natural Disasters Texas Profit Loss Hurricane