Aon Benfield's is likely to end up as one of the costliest natural disasters on record, with economic losses reaching tens of billions of dollars. Insured losses, including those paid by the private industry and by the US government's flood insurance programme, are likely to exceed $10bn, according to an analysis by Hurricane Harvey catastrophe modelling team, Impact Forecasting. The hurricane brought record-breaking rainfall and caused severe flooding across Texas and Louisiana, with the damage caused to Houston, the fourth largest city in the US, described as 'historic'.
Hurricane Harvey is likely to end up as one of the costliest natural disasters on record, with economic losses reaching tens of billions of dollars. Insured losses, including those paid by the private industry and by the US government's flood insurance programme, are likely to exceed $10bn, according to an analysis by Aon Benfield's catastrophe modelling team, Impact Forecasting. The hurricane brought record-breaking rainfall and caused severe flooding across Texas and Louisiana, with the damage caused to Houston, the fourth largest city in the US, described as 'historic'.