Irene Joins Top Ten Most Costly U.S. Hurricanes

A new ranking of the top ten most costly hurricanes just released by the Insurance Information Institute (I.I.I.) puts 2011’s Hurricane Irene in tenth place, replacing 2004’s Hurricane Jeanne.

Hurricane Irene made landfall near Cape Lookout, North Carolina, on August 27, 2011 as a Category 1 storm and a second landfall in New Jersey and New York City as a tropical storm the next day.

In all, Irene affected 14 states and resulted in $4.3 billion in insured damages, according to the Property Claim Services unit of ISO, and was directly responsible for 41 fatalities.

The insured damages tally does not include flood damage that is covered by the federally administered National Flood Insurance Program (NFIP).

Irene caused major flooding as it headed northward up the Atlantic seaboard. The I.I.I. notes that Irene caused catastrophic flooding in New York and New England, especially Vermont.

Here’s the ranking:

TOP TEN MOST COSTLY HURRICANES IN THE UNITED STATES (1)
($ millions)
Estimated insured loss (2)
Rank Date Location Hurricane Dollars when
occurred
In 2011
dollars (3)
1 Aug. 25-30, 2005 AL, FL, GA, LA, MS, TN Katrina $41,100 $46,591
2 Aug. 24-26, 1992 FL, LA Andrew 15,500 22,939
3 Sep. 12-14, 2008 AR, IL, IN, KY, LA, MO, OH, PA, TX Ike 12,500 13,050
4 Oct. 24, 2005 FL Wilma 10,300 11,676
5 Aug. 13-14, 2004 FL, NC, SC Charley 7,475 8,755
6 Sep. 15-21, 2004 AL, DE, FL, GA, LA, MD, MS, NJ, NY, NC,
OH, PA, TN, VA, WV
Ivan 7,110 8,328
7 Sep. 17-22, 1989 GA, NC, PR, SC, VA, U.S. Virgin Islands Hugo 4,195 6,835
8 Sep. 20-26, 2005 AL, AR, FL, LA, MS, TN, TX Rita 5,627 6,379
9 Sep. 3-9, 2004 FL, GA, NY, NC, SC Frances 4,595 5,382
10 Aug. 26-28, 2011 CT, DC, DE, MA, MD, ME, NC, NH, NJ, NY, PA, RI, VA, VT Irene 4,300 4,300

(1) Includes hurricanes occurring through 2011.
(2) Property coverage only. Does not include flood damage covered by the federally administered National Flood Insurance Program.
(3) Adjusted for inflation through 2011 by ISO using the GDP implicit price deflator.

Source: The Property Claim Services (PCS) unit of ISO, a Verisk Analytics company.

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