Hurricane Barry Private Market Loss At Almost $300M: KCC

Catastrophe risk modeller Karen Clark & Company (KCC) has estimated that Hurricane Barry will drive an insurance industry loss of close to $300 million, excluding National Flood Insurance Program (NFIP) losses.

Barry made landfall 160 miles west of New Orleans on Sunday as a Category 1 hurricane, reaching maximum sustained winds of 75mph for a short while, before dropping back into tropical storm territory.

KCC has said that its almost $300 million insured loss estimate for the storm includes privately insured wind and storm surge damage to residential, commercial, and industrial properties, and also automobiles.