Hurricane Helene caused between $8B and $14B in private insured losses: Moody's

Published On Oct 9, 2024, 6:00 AM

Hurricane Helene has inflicted significant damage, leading to estimated private insured losses of between $8 billion and $14 billion, according to Moody's. The storm caused extensive flooding and destruction across the Southeast, resulting in at least 232 fatalities. While the total estimated insured losses from wind and storm surge are between $6.7 billion to $12.3 billion, inland flooding losses add an additional $1.3 billion to $1.7 billion. The broader economic impacts could drive total costs from the disaster to between $20 billion and $34 billion. Moody's also highlighted the impending threat of Hurricane Milton, which may complicate the damage assessments from Helene as it approaches Florida, potentially causing further losses.