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Harvey residential insured and uninsured flood loss $25-$37 billion: Corelogic
September 1, 2017 / 6:46 AM / 25 days ago

Harvey residential insured and uninsured flood loss $25-$37 billion: Corelogic

A submerged house by flood waters from Tropical Storm Harvey in Rose City, Texas, U.S., on August 31, 2017. REUTERS/Jonathan Bachman

(Reuters) - Analytics firm Corelogic (CLGX.N) estimates total residential insured and uninsured flood loss from Hurricane Harvey of between $25 billion and $37 billion, it said on Friday.

Of that, around $6.5-$9.5 billion is estimated to be insured flood loss for homes in the affected areas in Texas and Louisiana.

Corelogic said an estimated 70 percent of flood damage from Harvey is not covered by any insurance.

An additional $1-$2 billion in insured losses is attributed to damage from wind.

Corelogic had on Wednesday raised its estimate for insured property losses for wind and storm surge to $1.5-3 billion, but this estimate did not include flood losses.

Reporting by Noor Zainab Hussain in Bengaluru and Carolyn Cohn in London; Editing by Rachel Armstrong

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