(Bloomberg) — Hurricane Laura raked Louisiana early Thursday (August 27), becoming one of the most powerful storms ever to hit the state, with a storm surge, flash floods, and devastating winds that could inflict more than $15 billion in insured losses. The storm had fallen to Category 1 by 10 a.m. local time, with top winds of 75 mph.

The system's landfall comes 15 years after Hurricane Katrina hit the region on August 29, 2005.

Laura came ashore at 1 a.m. local time near Cameron, Louisiana, with maximum winds of 150 miles (241 kilometers) per hour, matching a record set in 1856. Local officials said flooding was less than expected, while wind inflicted most of the damage. It killed at least one: a 14-year-old Louisiana girl who died when a tree fell on her home, according to Governor John Bel Edwards.

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