Tropical Storm Henri Could Be the Next $1 Billion Disaster

(Bloomberg) -- Tropical Storm Henri could cost $1 billion in damage and losses as possibly the first hurricane to hit eastern New England in 30 years, said Chuck Watson, a disaster modeler with Enki Research. 

With winds of 80 to 85 miles per hour, Henri is forecast to come ashore along the Rhode Island coast and then drive into southern New England as it weakens. Widespread rain and gusting winds will likely knock over trees, down power lines and cause flooding throughout the region. 

“It is hard to get a strong tropical storm or minimal hurricane hit anywhere in the U.S. and not get upwards to $1 billion in impacts,” Watson said. “And of course the Northeast is such a target rich environment, all those trees down, power outages, shingles damaged, and trashed fences start to add up.” 

Superstorm Sandy caused nearly $78 billion in damages in New York, New Jersey and elsewhere when it hit in 2012.   

Also See: Henri Verging on Hurricane Status as Northeast Braces for Hit

Most of Henri’s losses could be absorbed by residents and never accurately reported because people will simply clear damage themselves and pay for repairs that aren’t covered by insurance or fall below deductibles.

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