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.
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