SUNDAY, MARCH 7, 2021
Hurricane Floyd
9/24/1999 2:00:00 PM
Type of postingPosting date:time ESTSummaryScenariosDownloads
Post Landfall 39/24/1999 2:00:00 PM  
Post Landfall 29/16/1999 5:00:00 PM
Post Landfall 19/16/1999 9:00:00 AM
Post Landfall 09/16/1999 5:00:00 AM  
Pre-Landfall 59/15/1999 1:00:00 PM
Pre-Landfall 49/15/1999 8:00:00 AM  
Pre-Landfall 39/14/1999 8:00:00 PM
Pre-Landfall 29/14/1999 12:00:00 PM  
Pre-Landfall 19/14/1999 8:00:00 AM  
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Summary
Posting Date: 9/24/1999 2:00:00 PM
By Friday morning, September 17, the remnants of Hurricane Floyd were still making their way north across New England. The evening before, September 16, AIR posted event sets and a range of scenarios based on the most current information regarding the storm’s meteorological parameters and actual track, as well as on the most likely projected track as Floyd continued its way up the eastern seaboard. AIR’s estimated losses ranged from $1.3 to 2.0 billion.

Property Claims Services (PCS) has today issued an initial estimate of insured losses in the continental US based on actual claims information provided by the insurance industry. That loss estimate is $1.3 billion. This corresponds to AIR’s Scenario 1 that was posted as of 1700 EDT on September 16. As PCS’s preliminary estimates are sometimes a bit low, we recommend that clients look at the losses to their portfolios based on both Scenarios 1 and 2 that were provided in the September 16 posting. Again, note that these represent wind losses in the continental US only.

Wind damage resulting from Floyd was light, but the effects were felt over an unusually widespread area. Uninsured flood damage is estimated to be several times that resulting from wind. The photos shown here, and which were taken by the AIR post-disaster field investigation team, are representative of the kind of damage suffered.

On September 17, President and CEO of Applied Insurance Research, Karen Clark, was interviewed on CNBC. During the course of the interview, she provides a national television audience with AIR’s estimate of insured losses from Floyd. We will be posting the CNBC interview on the What’s New page of our Web site shortly. We hope you take a look.

This will be our final posting on Floyd.


Hurricane Floyd
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