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Flood Losses Crest at $500 Million

Last week's heavy rainstorms in the Atlanta area caused severe flood damage now estimated to be greater than $500 million -- much of it apparently uninsured.

By Eric Gilkey | Updated on September 30, 2009

Last week’s heavy rainstorms that produced nearly two feet of rain in the Atlanta area in one day caused severe flood damage now estimated to be greater than $500 million — much of it apparently uninsured.

Georgia Insurance Commissioner John W. Oxendine reported the figures on Monday, Sept. 28, after initially reporting a figure half that amount a week earlier. He expressed concern over the fact that 25 percent of flood claims occur in areas considered to be medium or low risk for flooding.

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