florence: insured losses could top $170 bn
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2018-09-12 20:01:42 UTC

Florence Could Mean $170 Billion of Property Damage, CoreLogic Says

Andrea Riquier
12 Sep 2018
Real Estate News

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As Hurricane Florence bears down on the southeastern United States,
nearly 759,000 homes are in the storm's path, and a worst-case
rebuilding scenario could cost more than $170 bn, according to an
estimate from real estate data provider CoreLogic.

CoreLogic calculated the reconstruction cost value, which is the total
expense of completely rebuilding a property in case of 100%
destruction, for 12 metro areas in the Carolinas and Virginia. The
table below shows those estimates for a Category 4 storm, which is
Florence's current designation. Additional estimates based on other
categorizations is available on CoreLogic's web site.

Area Total Homes at Risk Reconstruction cost value
Elizabeth City, NC 31,166 $6.55 bn
Greenville, NC 1,447 $271.6 mn
Jacksonville, NC 9,338 $1.76 bn
Kill Devil Hills, NC 22,566 $4.54 bn
Morehead City, NC 30,731 $5.9 bn
New Bern, NC 22,288 $4.95 bn
Washington, NC 10,859 $1.98 bn
Wilmington, NC 33,590 $7.75 bn
Charleston-North Charleston, NC 133,239 $34.31 bn
Georgetown, SC 23,200 $5.91 bn
Myrtle Beach-Conway-N. Myrtle Beach, SC 93,660 $16.44 bn
Virginia Beach-Norfolk-Newport News, VA 346,573 $79.93 bn

On Tue, as Florence barreled toward the Eastern Seaboard, the
National Association of Realtors renewed its call for Congress to
enact a long-term reauthorization of the National Flood Insurance
Program, the public program that's the only insurance option for many
homeowners in harm's way.


Oil jumps as Flo approaches
ABC News, 12 Sep 2018 09:23Z
With output expected to decline as Hurricane Florence approaches US
offshore oil fields there was a 3.5% spike in crude price last night,
pushing energy stocks higher.

Tesla Inc
NASDAQ: TSLA - 12 Sep., 12:46 pm GMT-4
291.23 USD +11.79 (4.22%) *** up 4.2% ***

Amazon.com, Inc.
NASDAQ: AMZN - 12 Sep., 12:46 pm GMT-4
1,985.38 USD -1.77 (0.089%) even

Kinder Morgan Canada Ltd
TSE: KML - 12 Sep., 12:32 pm GMT-4
16.79 CAD -0.060 (0.36%) down

Suncor Energy Inc. (USA)
TSE: SU - 12 Sep., 12:32 pm GMT-4
50.33 CAD -0.30 (0.59%) down

NK Rosneft' PAO
MCX: ROSN - 12 Sep., 6:49 pm GMT+3
444.90 RUB -3.90 (0.87%) down

TSE: TRP - 12 Sep., 12:32 pm GMT-4
54.80 CAD -0.74 (1.33%) *** down 1.3% ***

Hurricane Florence's Slow Speed Is Ominous
The Atlantic, 12 Sep 2018 14:20Z
There's something particularly worrying about the forecast for Hurricane
Florence-and it's not only that the storm will likely make landfall later ...

Hurricane Florence - live updates: Storm generates 83ft waves on ...
The Independent, 12 Sep 2018 14:21Z

ABC News @ABC 12 Sep 2018 14:28Z
"We could only capture her with a super wide-angle lens." Massive Hurricane
#Florence seen from the International Space Station:
abcn.ws/2N40OoZ pic.twitter.com/g2t8hyzZz1
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NBC News @NBCNews 12 Sep 2018 14:32Z
Replying to @NBCNews
Latest Hurricane Florence forecast track; now expected to approach Carolina
coast Thu/Fri and "move slowly near the coastline through Sat,"
NHC says. NBCNews.com/Florence pic.twitter.com/IuC8tlnl4d
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Hurricane Florence path shift 'bizarre,' could bring 'catastrophic ...
USA TODAY, 12 Sep 2018 15:24Z
The weird saga of Hurricane Florence, which has already carved an
unprecedented path across the Atlantic, is forecast to persist with a
strange ...

CNN Breaking News @cnnbrk 12 Sep 2018 15:46Z
"This is not going to be a glancing blow... This is going to be a Mike Tyson
punch to the Carolina coast," FEMA associate administrator Jeff Byard says
of Hurricane Florence. Follow live updates: cnn.it/2CNTDMN Track Hurricane
Florence: cnn.it/2CMmQYM pic.twitter.com/uOhr6QRASm
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InsideClimate News @insideclimate 12 Sep 2018 15:59Z
In Hurricane Florence's path: giant toxic coal ash piles. "These sites are
dangerous on a good day when the sun is shining. There is even greater risk
when there are hurricanes and floods," said Frank Holleman of @selc_org

Ryan Maue | weathermodels.com @RyanMaue 12 Sep 2018 16:08Z
Monumental rainfall amounts in North Carolina ... thru Sat morning
(+96 hours) already 30-36" or 3-feet of rainfall possible from Hurricane
#Florence ... and storm in worst position for continued onshore flooding
rain bands. Both Carolinas under threat of disaster. pic.twitter.com/y7D0pbx#

Hurricane Florence Updates: Catastrophic Rain Predicted as Storm's ...
New York Times, 12 Sep 2018 16:12Z

CNN Breaking News @cnnbrk 12 Sep 2018 16:17Z
Over 25 mn people are inside the Hurricane Florence forecast cone from
the National Hurricane Center, which extends from Virginia to Alabama as of
Wed morning cnn.it/2Nb8nKv pic.twitter.com/kvsiGaBk47
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Brad Nitz @BradNitzWSB 12 Sep 2018 16:26Z
High pressure north of Hurricane Florence will stall it near the coast. A
slow turn to the west is expected to follow. I'll show you how the steering
winds will affect the storm's path live on @wsbtv in a few minutes.
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Philip Klotzbach @philklotzbach 12 Sep 2018 16:34Z
#Hurricane #Florence currently has a central pressure of 943 mb - the lowest
for an Atlantic hurricane this far north since Hurricane Sandy in 2012. pic.
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#41002 Sth Hatteras - 225 nm S of Cp Hatteras:
1350Z WDIR NNE WSPD 9mps GST 12mps WVHT 3.1m WTMP 28.9C
1450Z WDIR NNE WSPD 10mps GST 12mps WVHT 3.7m WTMP 28.9C
1550Z WDIR N WSPD 7mps GST 9mps WVHT 3.9m WTMP 29C
1650Z WDIR N WSPD 10mps GST 12mps WVHT 4.4m WTMP 29C
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Florence could be costliest storm to hit US
NBC, 12 Sep 2018 18:01Z
With the track of the system changing moment to moment CoreLogic
estimates Florence could cause up to $170 bn in insured damages if it
hits the Carolina coast and loiters for 4 days.
[If X is the insured loss then approx 3X is the total loss for the US].

[Pres Trump gave himself an "A+" for Maria & PR and shifted blame to
the location of the island and PR politicians:]
I think Puerto Rico was an incredible, unsung success, TX, we had
been given A-plusses for. Florida, we've been given A-plusses for. I think,
in a certain way, the best job we did was Puerto Rico but nobody would
understand that.
-- Pres Trump, 11 Sep 2018

I mean this seriously, not as a political dig. If you're in Florence's
path and considering riding it out, your President just said that a
hurricane response where 3,000 die is his measure of success. Get out
of there.
-- Sen. Chris Murphy (D-Conn.)

Grandad of Russian Novichok suspect "unmasked as a top commander in
Josef Stalin's secret World War Two spy killing network"
The Sun, 06 Sep 2018 11:30 am
The grandfather of one of the men accused of the Salisbury Novichok
attack was a commander in Josef Stalin's notorious "death to spies"
counter-intelligence unit, it is claimed.
Alexander Petrov was named yesterday alongside Ruslan Boshirov as the
agents who poisoned former-Russian agent Sergei Skripal and his
daughter Yulia.
Today's claim suggests Petrov's grandfather, Ivan Starchenko, served
under Stalin as a commander of SMERSH - an umbrella organisation of
three Red Army agencies set up to root out and kill spies.
He reportedly held the position on the First Ukrainian Front during
World War Two.
His grandmother, Nadezhda Moroz, also worked as clerk-typist for the
same division.
The claim, from investigative reporter Sergey Kanev, raises the
possibility that Petrov, believed to be aged 39, is from a family of spies.
Theresa May claimed Petrov and Boshirov are GRU agents and their
mission would have been approved at the highest levels in the Kremlin.
Boshirov and Petrov are reported to have non-biometric passports with
almost identical numbers, suggesting they were issued 2 years ago at
the same time.
Boshirov appears to have a job - possibly his cover - as an employee of
Microgen, a Russian pharmaceutical company reporting to the ministry
of healthcare and established in 2003.
It is unclear if the role would give him any expertise with Novichok, a
nerve agent manufactured in Soviet times.

Salisbury poisoning suspect Alexander Petrov 'to speak publicly next ...
Evening Standard, 12 Sep 2018 15:17Z

BREXIT SNATCH: Germany plots English-speaking courts to exploit ...
Express.co.uk, 13 Aug. 2018
However, Frankfurt could soon adopt English-speaking judges to add to ...
to do with Frankfurt, allowing extra business to flow through the city.
2018-09-12 20:09:20 UTC
Post by M***@kymhorsell.com
Florence Could Mean $170 Billion of Property Damage, CoreLogic Says
Wong group ! ! This is the alt.global-warming goup.

Weather reports belong in the weather group. Your immediate attention to this matter would be greatly appreciated.

Try to remember this in future when you wish to post weather events.

Thank you for your attention.
Bret Cahill
2018-09-12 23:07:31 UTC
Post by Catoni
Post by M***@kymhorsell.com
Florence Could Mean $170 Billion of Property Damage, CoreLogic Says
Wong group ! ! This is the alt.global-warming goup.
You need to tell that to property owners trying to buy flood insurance:

"Mr. Ins. Agent, flooding ain't gittin worse 'cause of no Gore Bull wammin! You shoulda seen the floodin back in the Big Banglocene!

"Floodin is natcheral and natcheral is good!"
R Kym Horsell
2018-09-13 00:20:14 UTC
Post by Bret Cahill
Post by Catoni
Post by M***@kymhorsell.com
Florence Could Mean $170 Billion of Property Damage, CoreLogic Says
Wong group ! ! This is the alt.global-warming goup.
"Mr. Ins. Agent, flooding ain't gittin worse 'cause of no Gore Bull wammin! You shoulda seen the floodin back in the Big Banglocene!
"Floodin is natcheral and natcheral is good!"
Spending money is good for GDP. We need more weather disasters, hurricanes
and fires!
Climate hillbillies still insist on incandecant bulbs because
"CF & LED makers are in it fer tha money".
[Pass it on].
JTEM is right
2018-09-12 22:05:57 UTC
Post by M***@kymhorsell.com
Florence Could Mean $170 Billion of Property Damage
That's it?

The 1938 hurricane cost over $300 million BACK THEN,
and the population is about twice as high, the
real estate in this area has vastly out paced inflation
in price...

I mean, just the cars squeezed into the same space
today, as compared to then, would be ridiculous...

Worst of all, of course, is the fact that water front
property/beach front property is amongst the most
expensive anywhere!

And insurance will fight you! After Katrina, a civil
& structural engineer that I know took some photos of
a house that the insurance company refused to pay on,
because it wasn't covered for flood damage. But,
according to this structural engineer, the home had
been destroyed by WIND DAMAGE! So the home owner was
able to sue and win a hefty insurance payout... on
his home which he build knowing a hurricane would
eventually strike.

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