Alva Review-Courier -

FEMA insurance chief: Harvey losses could top $11 billion

 

September 14, 2017



WASHINGTON (AP) — The head of the National Flood Insurance Program said Wednesday early estimates show Hurricane Harvey will result in about $11 billion in payouts to insured homeowners, mostly in southeast Texas.

That would likely put Harvey as the second costliest storm in the history of the federal insurance program, said Roy E. Wright, the Federal Emergency Management Agency's deputy associate administrator for insurance and mitigation. More than $16 billion was paid out after Hurricane Katrina in 2005.

It is still too soon to estimate losses from Hurricane Irma, Wright said. But he p...



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