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Aftermath of Hurricane Florence: $20B to $30B in Flood, Wind Losses

Residential and commercial flood and wind loss estimates for Hurricane Florence is expected to result in nearly $20 billion to almost $30 billion in losses. According to new CoreLogic data analysis, the impact is being felt across residential and commercial properties in North Carolina, South Carolina and Virginia, encompassing both storm surge and inland flooding.

Specifically, uninsured flood loss for the same area is estimated to be between $13 billion and $18.5 billion. Wind losses are estimated to be an additional $1 billion to $1.5 billion. CoreLogic estimates roughly 85% of residential losses are uninsured.

This analysis includes residential homes and commercial properties, including contents and business interruptio, and does not include broader economic loss from the storm.

Insured flood loss covered by the National Flood Insurance Program (NFIP) is estimated to be between $2 billion and $5 billion.


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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