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Texas flood damage from Harvey may match Katrina

from Reuters

Flood damage in Texas from Hurricane Harvey may equal that from 2005’s Hurricane Katrina, the costliest natural disaster in U.S. history, said an insurance research group on Aug. 27. As heavy rain pounded Houston and Texas’s coastal counties, the Insurance Information Institute said it was still too soon to make precise estimates of the damage to homes and businesses. “It could be a flood loss like Katrina because of the amount of water that’s coming in ... not as much wind as it will be water,” said institute spokeswoman Loretta Worters. more

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