A worker sweeps water from a damaged convenience store after Hurricane Beryl made landfall in Palacios, Texas, on Mon., July 8, 2024. The storm brought heavy rains and life-threatening storm surge after churning across the Caribbean Sea and the Gulf of Mexico. (Photo credit: Eddie Seal/Bloomberg)
One the heels of Karen Clark & Co.'s preliminary estimate that insured losses from Hurricane Beryl would be around $2.7 billion in the United States, Moody's RMS™ Event Response has determined that figure could be as high as $4.5 billion, which represents costs from wind, storm-surge and precipitation-induced damage.
Related: A closer look at Hurricane Beryl damage, recovery efforts
"Hurricane Beryl was yet another complex and impactful event across multiple fronts and regions," Jeff Waters, director of North Atlantic Hurricane Models at Moody's, said in a prepared statement. "Parts of the Caribbean sustained catastrophic damage that will unfortunately take a long time to fully recover."
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