The massive flooding in Colorado, which has claimed at least eight lives already, continues to pummel areas where residents are otherwise accustomed to dry conditions. Late last month, EQECAT released its first comprehensive loss analysis in which the catastrophe modeling firm projected $2 billion in economic losses.
Comprising nearly half of that total are property losses: At least 1,500 homes have been destroyed, while some 20,000 homes have been damaged in more than 17 counties. Of course, these loss figures are expected to rise in the coming months, due in large part to the fact that damages are still unfolding. Flood waters shut down hundreds of natural gas and oil wells in the state's main petroleum-producing region and triggered at least two spills, temporarily suspending a multibillion-dollar drilling project and raising pollution concerns.
Infrastructure and Environmental Concerns
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