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An analysis of the final estimated uninsured and insured losses in the states affected by Hurricane Yang shows that total flood and wind-related losses range from $41 billion to $70 billion.

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Analytics and data provider CoreLogic said the estimate includes wind losses, overestimated insured and uninsured storm surge losses, and newly calculated inland flood losses for residential and commercial properties.

Flood damage from private insurance and the National Flood Insurance Program (NFIP) for residential and commercial property has been estimated at between $8 billion and $18 billion.

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This amount includes both the storm surge reassessment and the new inland flood estimates.

FIGHTING WATER-DAMAGED EVS FIRE ‘LINKS RESOURCES’ IN HURRICANE IAN RECOVERY, FLORIDA FIRE DEPARTMENT SAYS

In addition, uninsured flood losses in Florida, South Carolina and other states are estimated at between $10 billion and $17 billion.

Wind losses are estimated at $23–35 billion.

FIGHTING FIRE DUE TO WATER DAMAGED EVS ‘LINKS RESOURCES’ I NHURRICANE IAN RECOVERY, SAYS FLORIDA FIRE DEPARTMENT

To reach these conclusions, CoreLogic used the US domestic flood model and CoreLogic’s North Atlantic hurricane model.

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The insured loss is the amount that insurers will pay to cover the loss.

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Flood is a separate insurance policy that is not mandatory outside of Designated Highly Hazardous Flood Areas (SFHA).

The inland flood analysis is based on rainfall from 25 September to 4 October.

More than 66,000 nearly $22.5 billion of pending mortgage applications are currently in Florida and the Carolinas and are at risk from Hurricane Ian damage, according to CoreLogic.