Hurricane Helene devastation could cost up to $34B, Moody's says

Published On Sep 30, 2024, 12:02 PM

Hurricane Helene has caused significant devastation across several states in the Southeast, resulting in a preliminary cost estimate of $20 billion to $34 billion according to Moody's Analytics. The hurricane, classified as a Category 4 at landfall, led to catastrophic flooding, high winds, and infrastructure damage. Over 100 fatalities have been reported, and many communities remain isolated due to flooding. The economic impact includes damage to property and lost output from closures in schools and businesses. A more precise estimate of insured losses is expected in the coming weeks.