Estimated Insured Losses From Tropical Storm Cristobal Near $150M

 Thursday, June 11, 2020

 Insurance Business

Catastrophe modeling firm Karen Clark & Company (KCC) estimates that insured losses from Tropical Storm Cristobal will reach nearly $150 million.

KCC’s estimate, which was based on its high-resolution US Hurricane Reference Model, includes privately insured wind and storm surge damage to residential, commercial, and industrial properties and vehicles. However, it does not cover NFIP losses.

Tropical Storm Cristobal was first identified as a tropical depression near the Yucatan Peninsula with 30mph wind speeds on June 1.

It turned into a tropical storm on June 02 then made landfall along the US Gulf Coast on June 08, bringing 50mph maximum sustained winds that impacted multiple states from Louisiana to Michigan.

The affected areas did not report any significant structural damage. However, Alabama, Louisiana, and Mississippi experienced power outages.