Economic Losses from Louisiana Floods Over $10B; Insured Losses Much Lower

Catastrophes in the month of August took a serious economic toll, with total damages from the “historic” Louisiana floods expected to top $10 billion and an earthquake in Italy leaving 266 people dead, according to Aon Benfield’s latest global catastrophe report.

“A slow-moving area of low pressure brought multiple days of extreme rainfall across parts of the Gulf Coast and Midwest in the United States, causing catastrophic flood damage in several communities,” stated Aon Benfield in its report.

Read more at http://www.advisenltd.com/2016/09/14/economic-losses-from-louisiana-floods-over-10b-insured-losses-much-lower/

Erin Ayers, Economic losses from Louisiana floods over $10B; insured losses much lower (September 14, 2016), available with subscription at Advisen Professional Front Page News.