From the vantage point of many, Irene's blow was softer than anticipated. Nevertheless, the tropical storm left a trail of broken bodies—24 deaths have been reported—tree limbs, and frayed power lines in its wake, compounding an already record-setting year for catastrophe loss.
Indeed, I.I.I. President Dr. Hartwig's pre-weekend storm loss projections will likely ring true, as preliminary figures point to between $2 to $3 billion—further inflating the year's $18 billion in insured damages across the nation.
But for millions of East Coasters and the property and casualty (P&C) carriers that insure them, the scramble for exit routes amid paralyzed transit systems and post-evacuation inconveniences pale in comparison to the potentially massive implications of flooding, as heavy rains battered already saturated grounds.
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