Isaias insured losses $4B in US: KCC

Insured losses in the United States from Hurricane Isaias are expected to be around $4 billion, according to a report from Karen Clark & Co. on Monday.

Storm damage in the Caribbean will add a further $200 million in insured losses, the Boston-based catastrophe modeling firm said.

The estimate includes privately insured wind and storm surge damage to residential, commercial and industrial properties and autos, KCC said.

National Flood Insurance Program losses are not included in the estimate, KCC said in a statement.

Isaias brought damaging winds to Puerto Rico, the Dominican Republic and the Bahamas, causing downed trees and power lines, KCC said.

In the Bahamas, where not all repairs had been completed to areas hit by Hurricane Dorian last year, roof damage and structural damage from downed trees were observed in commercial and residential buildings, KCC said.

In the U.S., severe structural damage appears to be isolated to older buildings or those affected by tornadoes spawned by Isaias, according to KCC’s statement.

Some buildings with unique architectural features sustained “significant damage,” KCC said.

KCC’s estimate follows an earlier report by Aon that said insured losses from Isaias would top $1 billion.