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<article 
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          data-story-published-at="2017-08-30T12:06:42+00:00"
          data-story-published-epoch="1504094802000"
          data-story-primary-author="Sonali Basak"
          data-story-url="https://www.bloomberg.com/news/articles/2017-08-27/harvey-s-cost-reaches-catastrophe-as-modelers-see-many-uninsured"
          data-story-slug="business/2017/08/27/harvey-s-cost-reaches-catastrophe-as-modelers-see-many-uninsured"
          data-story-headline="Harvey Costs Seen at Catastrophic Levels With Many Uninsured"
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        Harvey Costs Seen at Catastrophic Levels With Many Uninsured
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          August 30 2017, 12:06PM
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          August 27 2017, 10:53PM
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    <p>(Bloomberg) -- Hurricane Harvey’s second act across southern Texas is turning into an economic catastrophe -- with damages likely to stretch into tens of billions of dollars and an unusually large share of victims lacking adequate insurance, according to early estimates.</p>
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    <p>Harvey’s cost could mount to $30 billion when including the impact of relentless flooding on the labor force, power grid, transportation and other elements that support the region’s energy sector, Chuck Watson, a disaster modeler with Enki Research, said in an email Monday. That would place it among the top eight hurricanes to ever strike the U.S. David Havens, an insurance analyst at Imperial Capital, said the final tally might be as high as $100 billion.</p>
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    <p>Less than a third of Harvey’s losses are likely to be insured, Watson said.</p>
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    <p>Steve Moore, a 68-year-old who owns Houston’s Villa Serena Communities, about 5,000 apartment units that rent for about $500 a month each, expects more than $10 million of damage. Moore said the buildings aren’t fully insured.</p>
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    <p>Many of the low-income residents who live on lower floors of his buildings near the Houston airport had some flooding, but nobody was hurt, he said.</p>
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    <p>“I’m pretty depressed this morning,” said Moore, who tripped on a curb earlier Monday while surveying the damage and lost his phone and credit cards in three feet of water. “It’s just a mess.”</p>
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    <p>“A historic event is currently unfolding in Texas,” Aon Plc wrote in an alert to clients. “It will take weeks until the full scope and magnitude of the damage is realized,” and already it’s clear that “an abnormally high portion of economic damage caused by flooding will not be covered,” the insurance broker said.</p>
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    <p>Many forecasters were hesitant over the weekend to make preliminary estimates for how much insurers might pay. Researchers were shifting from examining Harvey’s landfall Friday as a roof-lifting category 4 hurricane to the havoc it later created inland as a tropical storm. Typical insurance policies cover wind but not flooding, which often proves costlier. Blaming one or the other takes time.</p>
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    <p>Insurers were among the biggest decliners Monday in the S&amp;P 500 Index, with Travelers Cos. dropping 2.8 percent and Progressive Corp. down 2.5 percent at 12:22 p.m. in New York. </p>
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    <p data-tout-type="story"><a href="https://www.bloomberg.com/news/articles/2017-08-27/flooding-replaces-high-wind-as-harvey-threat-to-texas-gulf-coast">Read more on the storm: Flooding replaces high wind as Harvey slams coast</a></p>
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    <p>In the Houston area, rainfall already has surpassed that of tropical storm Allison in 2001, which wreaked roughly $12 billion of damage in current dollars. In that case, only about $5 billion was covered by insurance, according to Aon.</p>
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    <p>Those storms are dwarfed by Hurricane Katrina, which struck in 2005 and devastated New Orleans. By some estimates, it inflicted $160 billion in total economic damage. About 47 percent of Katrina losses were covered by the insurance industry, but only about 27 percent is expected to be insured for Harvey, Watson said.</p>
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    <p>Most people with flood insurance buy policies backed by the federal government’s National Flood Insurance Program. As of April, less than one-sixth of homes in Houston’s Harris County had federal coverage, according to Aon. That would leave more than 1 million homes unprotected in the county. Coverage rates are similar in neighboring areas. Many cars also will be totaled.</p>
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    <p>“A lot of these people are going to be in very serious financial situations,” said Loretta Worters, a spokeswoman for the Insurance Information Institute. “Most people who are living in these areas do not have flood insurance. They may be able to collect some grants from the government, but there are not a lot, usually they’re very limited. There are no-interest to low-interest loans, but you have to pay them back.”</p>
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    <p>The federal program itself is already struggling with $25 billion of debt. The existing program is set to expire on Sept. 30 and is up for review in Congress, which ends its recess Sept. 5. </p>
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    <p>Costs still will likely soar for insurance companies and their reinsurers, biting into earnings. As Harvey bore down on the coastline Friday, William Blair &amp; Co., a securities firm that tracks the industry, said the storm could theoretically inflict $25 billion of insured losses if it landed as a “large category 3 hurricane.”</p>
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    <p>Policyholder-owned State Farm Mutual Automobile Insurance Co. has the largest share in the market for home coverage in Texas, followed by Allstate Corp., which is publicly traded. William Blair estimated that, in that scenario, Allstate could incur $500 million of pretax catastrophe losses, shaving 89 cents off of earnings per share.</p>
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    <p>Investors began bracing for losses last week. But many didn’t believe that Harvey could wipe out bonds that were issued to protect insurers against storm damage in the region, according to Brett Houghton, a managing principal at Fermat Capital Management. His firm manages more than $5 billion, with allocations to catastrophe bonds.</p>
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    <p>The Swiss Re Cat Bond Price Return Index dropped 0.44 percent in the week ended Aug. 25, the steepest decline since January. The benchmark is recalculated every Friday, so it’s unclear how the debt performed as the storm continued through Sunday. Reinsurers, which provide a backstop for primary carriers, also may get burned. That group include Bermuda-based companies Arch Capital Group Ltd., Axis Capital Holdings Ltd. and RenaissanceRe Holdings Ltd., according to a note last week from Meyer Shields, an analyst at Keefe, Bruyette &amp; Woods.</p>
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That would place it among the top eight hurricanes to ever strike the U.S. David Havens, an insurance analyst at Imperial Capital, said the final tally might be as high as $100 billion.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/b6ae0e42-9d55-4597-8fe2-695df80ad361","type":"text","family_id":"2d11655e-d13a-45d1-9bbb-5aa87106ce21","title":"","id":"b6ae0e42-9d55-4597-8fe2-695df80ad361","metadata":null,"subtype":null,"text":"\u003cp\u003eHarvey’s cost could mount to $30 billion when including the impact of relentless flooding on the labor force, power grid, transportation and other elements that support the region’s energy sector, Chuck Watson, a disaster modeler with Enki Research, said in an email Monday. That would place it among the top eight hurricanes to ever strike the U.S. David Havens, an insurance analyst at Imperial Capital, said the final tally might be as high as $100 billion.\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eLess than a third of Harvey’s losses are likely to be insured, Watson said.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/48bbdf0c-1f2b-4324-9aba-aac8bea680ac","type":"text","family_id":"b3d7b095-7f54-4b30-af69-d56d52129086","title":"","id":"48bbdf0c-1f2b-4324-9aba-aac8bea680ac","metadata":null,"subtype":null,"text":"\u003cp\u003eLess than a third of Harvey’s losses are likely to be insured, Watson said.\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eSteve Moore, a 68-year-old who owns Houston’s Villa Serena Communities, about 5,000 apartment units that rent for about $500 a month each, expects more than $10 million of damage. Moore said the buildings aren’t fully insured.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/7b2c0578-50e5-48d5-b929-004747a205da","type":"text","family_id":"77b4d8be-574f-444b-b3b5-997c67cc158a","title":"","id":"7b2c0578-50e5-48d5-b929-004747a205da","metadata":null,"subtype":null,"text":"\u003cp\u003eSteve Moore, a 68-year-old who owns Houston’s Villa Serena Communities, about 5,000 apartment units that rent for about $500 a month each, expects more than $10 million of damage. Moore said the buildings aren’t fully insured.\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eMany of the low-income residents who live on lower floors of his buildings near the Houston airport had some flooding, but nobody was hurt, he said.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/0b3fcfb2-af73-4f13-8758-5999ffdb1aef","type":"text","family_id":"0dbd382f-cca1-451c-a368-c41cdbda7c79","title":"","id":"0b3fcfb2-af73-4f13-8758-5999ffdb1aef","metadata":null,"subtype":null,"text":"\u003cp\u003eMany of the low-income residents who live on lower floors of his buildings near the Houston airport had some flooding, but nobody was hurt, he said.\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003e“I’m pretty depressed this morning,” said Moore, who tripped on a curb earlier Monday while surveying the damage and lost his phone and credit cards in three feet of water. “It’s just a mess.”\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/bf1b4dc8-a95b-4ead-b38e-f88fdd6a942d","type":"text","family_id":"75d41336-a6d0-4ec6-8aa3-cf6d8062d132","title":"","id":"bf1b4dc8-a95b-4ead-b38e-f88fdd6a942d","metadata":null,"subtype":null,"text":"\u003cp\u003e“I’m pretty depressed this morning,” said Moore, who tripped on a curb earlier Monday while surveying the damage and lost his phone and credit cards in three feet of water. “It’s just a mess.”\u003c/p\u003e"},{"description":"","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/2f241610-5059-4373-b555-6626709b3afb","type":"external-file","family_id":"5e4d94e4-6d85-427c-b90b-f9e02cb8c53f","title":"","file_type":"image","id":"2f241610-5059-4373-b555-6626709b3afb","url":"http://resource.bloomberg.com/images/317090772","content_type":"quintype/multiple","metadata":{"data_id":"317090772","urls":[{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/-1x-1.png","content_type":"image/png","width":1200,"height":664},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/135x-1.png","content_type":"image/png","width":135,"height":76},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/-1x399.png","content_type":"image/png","width":710,"height":399},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/116x68.png","content_type":"image/png","width":116,"height":68},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/140x140.png","content_type":"image/png","width":140,"height":140},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/180x240.png","content_type":"image/png","width":180,"height":240},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/300x172.png","content_type":"image/png","width":300,"height":172},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/360x240.png","content_type":"image/png","width":360,"height":240},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/630x354.png","content_type":"image/png","width":630,"height":354},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/300x400.png","content_type":"image/png","width":300,"height":400},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/100x60.png","content_type":"image/png","width":100,"height":60},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/-1x240.png","content_type":"image/png","width":427,"height":240},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/-1x500.png","content_type":"image/png","width":889,"height":500},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/630x420.png","content_type":"image/png","width":630,"height":420},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/80x80.png","content_type":"image/png","width":80,"height":80},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/-1x-1.png","content_type":"image/png","width":2000,"height":1125},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/140x-1.png","content_type":"image/png","width":140,"height":79},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/120x80.png","content_type":"image/png","width":120,"height":80},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/620x349.png","content_type":"image/png","width":620,"height":349},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/765x430.png","content_type":"image/png","width":765,"height":430},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/840x473.png","content_type":"image/png","width":840,"height":473},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/120x120.png","content_type":"image/png","width":120,"height":120},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/620x413.png","content_type":"image/png","width":620,"height":413},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/380x252.png","content_type":"image/png","width":380,"height":252},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/380x220.png","content_type":"image/png","width":380,"height":220},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/220x126.png","content_type":"image/png","width":220,"height":126},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/750x-1.png","content_type":"image/png","width":750,"height":422},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/220x220.png","content_type":"image/png","width":220,"height":220},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/405x270.png","content_type":"image/png","width":405,"height":270},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/368x-1.png","content_type":"image/png","width":368,"height":207},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/620x226.png","content_type":"image/png","width":620,"height":226},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/488x-1.png","content_type":"image/png","width":488,"height":275},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iqZPgZIz1yBA/v1/1200x-1.png","content_type":"image/png","width":1200,"height":675},{"url":"h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class=\"primary-typeface story-element-text\"\u003e\u003cp\u003e“A historic event is currently unfolding in Texas,” Aon Plc wrote in an alert to clients. “It will take weeks until the full scope and magnitude of the damage is realized,” and already it’s clear that “an abnormally high portion of economic damage caused by flooding will not be covered,” the insurance broker said.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/78593cee-beea-4f99-9d40-abc905291a38","type":"text","family_id":"f6bbc160-ae7d-4446-b75b-24107f67c4d2","title":"","id":"78593cee-beea-4f99-9d40-abc905291a38","metadata":null,"subtype":null,"text":"\u003cp\u003e“A historic event is currently unfolding in Texas,” Aon Plc wrote in an alert to clients. “It will take weeks until the full scope and magnitude of the damage is realized,” and already it’s clear that “an abnormally high portion of economic damage caused by flooding will not be covered,” the insurance broker said.\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eMany forecasters were hesitant over the weekend to make preliminary estimates for how much insurers might pay. Researchers were shifting from examining Harvey’s landfall Friday as a roof-lifting category 4 hurricane to the havoc it later created inland as a tropical storm. Typical insurance policies cover wind but not flooding, which often proves costlier. Blaming one or the other takes time.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/0af85610-7e17-4d88-8c07-1456711b281d","type":"text","family_id":"7c644853-1888-485e-89cf-27ebdbedd69d","title":"","id":"0af85610-7e17-4d88-8c07-1456711b281d","metadata":null,"subtype":null,"text":"\u003cp\u003eMany forecasters were hesitant over the weekend to make preliminary estimates for how much insurers might pay. Researchers were shifting from examining Harvey’s landfall Friday as a roof-lifting category 4 hurricane to the havoc it later created inland as a tropical storm. Typical insurance policies cover wind but not flooding, which often proves costlier. Blaming one or the other takes time.\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eInsurers were among the biggest decliners Monday in the S\u0026amp;P 500 Index, with Travelers Cos. dropping 2.8 percent and Progressive Corp. down 2.5 percent at 12:22 p.m. in New York. \u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/b7708310-7063-4278-bca5-f67d3bae8812","type":"text","family_id":"fe133c91-8ea9-4451-bdcd-6729ba7c5621","title":"","id":"b7708310-7063-4278-bca5-f67d3bae8812","metadata":null,"subtype":null,"text":"\u003cp\u003eInsurers were among the biggest decliners Monday in the S\u0026amp;P 500 Index, with Travelers Cos. dropping 2.8 percent and Progressive Corp. down 2.5 percent at 12:22 p.m. in New York. \u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp data-tout-type=\"story\"\u003e\u003ca href=\"https://www.bloomberg.com/news/articles/2017-08-27/flooding-replaces-high-wind-as-harvey-threat-to-texas-gulf-coast\"\u003eRead more on the storm: Flooding replaces high wind as Harvey slams coast\u003c/a\u003e\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/d0ee0d26-9b68-4fec-bcf9-462f71ad1146","type":"text","family_id":"b8939567-012c-4579-8b3a-c237a7f1e100","title":"","id":"d0ee0d26-9b68-4fec-bcf9-462f71ad1146","metadata":null,"subtype":null,"text":"\u003cp data-tout-type=\"story\"\u003e\u003ca href=\"https://www.bloomberg.com/news/articles/2017-08-27/flooding-replaces-high-wind-as-harvey-threat-to-texas-gulf-coast\"\u003eRead more on the storm: Flooding replaces high wind as Harvey slams coast\u003c/a\u003e\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eIn the Houston area, rainfall already has surpassed that of tropical storm Allison in 2001, which wreaked roughly $12 billion of damage in current dollars. In that case, only about $5 billion was covered by insurance, according to Aon.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/85eb8ac4-dbb8-4351-bb34-72c193971414","type":"text","family_id":"c0499dd7-231c-43ed-8b55-eda81a769b53","title":"","id":"85eb8ac4-dbb8-4351-bb34-72c193971414","metadata":null,"subtype":null,"text":"\u003cp\u003eIn the Houston area, rainfall already has surpassed that of tropical storm Allison in 2001, which wreaked roughly $12 billion of damage in current dollars. In that case, only about $5 billion was covered by insurance, according to Aon.\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eThose storms are dwarfed by Hurricane Katrina, which struck in 2005 and devastated New Orleans. By some estimates, it inflicted $160 billion in total economic damage. About 47 percent of Katrina losses were covered by the insurance industry, but only about 27 percent is expected to be insured for Harvey, Watson said.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/c0230a13-1df9-46de-9325-118cdfb406a2","type":"text","family_id":"3f5dfb5a-b8b0-4177-959c-05157e3f504d","title":"","id":"c0230a13-1df9-46de-9325-118cdfb406a2","metadata":null,"subtype":null,"text":"\u003cp\u003eThose storms are dwarfed by Hurricane Katrina, which struck in 2005 and devastated New Orleans. By some estimates, it inflicted $160 billion in total economic damage. About 47 percent of Katrina losses were covered by the insurance industry, but only about 27 percent is expected to be insured for Harvey, Watson said.\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eMost people with flood insurance buy policies backed by the federal government’s National Flood Insurance Program. As of April, less than one-sixth of homes in Houston’s Harris County had federal coverage, according to Aon. That would leave more than 1 million homes unprotected in the county. Coverage rates are similar in neighboring areas. Many cars also will be totaled.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/add72507-9f46-4f01-af48-e68160876901","type":"text","family_id":"9cddeaf2-5b4a-4723-b7f1-803d4f9b5eed","title":"","id":"add72507-9f46-4f01-af48-e68160876901","metadata":null,"subtype":null,"text":"\u003cp\u003eMost people with flood insurance buy policies backed by the federal government’s National Flood Insurance Program. As of April, less than one-sixth of homes in Houston’s Harris County had federal coverage, according to Aon. That would leave more than 1 million homes unprotected in the county. Coverage rates are similar in neighboring areas. Many cars also will be totaled.\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003e“A lot of these people are going to be in very serious financial situations,” said Loretta Worters, a spokeswoman for the Insurance Information Institute. “Most people who are living in these areas do not have flood insurance. They may be able to collect some grants from the government, but there are not a lot, usually they’re very limited. There are no-interest to low-interest loans, but you have to pay them back.”\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/37376549-0ed0-4be0-a88b-aed7fe6dec4a","type":"text","family_id":"02e152ed-c001-491e-9aec-a5f9a80cc4a5","title":"","id":"37376549-0ed0-4be0-a88b-aed7fe6dec4a","metadata":null,"subtype":null,"text":"\u003cp\u003e“A lot of these people are going to be in very serious financial situations,” said Loretta Worters, a spokeswoman for the Insurance Information Institute. “Most people who are living in these areas do not have flood insurance. They may be able to collect some grants from the government, but there are not a lot, usually they’re very limited. There are no-interest to low-interest loans, but you have to pay them back.”\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eThe federal program itself is already struggling with $25 billion of debt. The existing program is set to expire on Sept. 30 and is up for review in Congress, which ends its recess Sept. 5. \u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/2cac9fdf-6f13-4613-a452-d647fe317cff","type":"text","family_id":"4d889695-d298-4066-9d87-7aecbc89a76a","title":"","id":"2cac9fdf-6f13-4613-a452-d647fe317cff","metadata":null,"subtype":null,"text":"\u003cp\u003eThe federal program itself is already struggling with $25 billion of debt. The existing program is set to expire on Sept. 30 and is up for review in Congress, which ends its recess Sept. 5. \u003c/p\u003e"},{"description":"","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/9d913d45-4464-404c-bc20-d522d946a29b","type":"external-file","family_id":"0a127de7-d9c2-4798-a7d7-5f49e4371b66","title":"","file_type":"image","id":"9d913d45-4464-404c-bc20-d522d946a29b","url":"http://resource.bloomberg.com/images/317094473","content_type":"quintype/multiple","metadata":{"data_id":"317094473","urls":[{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/-1x-1.jpg","content_type":"image/jpg","width":2200,"height":1219},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/135x-1.jpg","content_type":"image/jpg","width":135,"height":76},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/-1x399.jpg","content_type":"image/jpg","width":710,"height":399},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/116x68.jpg","content_type":"image/jpg","width":116,"height":68},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/140x140.jpg","content_type":"image/jpg","width":140,"height":140},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/180x240.jpg","content_type":"image/jpg","width":180,"height":240},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/300x172.jpg","content_type":"image/jpg","width":300,"height":172},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/360x240.jpg","content_type":"image/jpg","width":360,"height":240},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/630x354.jpg","content_type":"image/jpg","width":630,"height":354},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/300x400.jpg","content_type":"image/jpg","width":300,"height":400},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/100x60.jpg","content_type":"image/jpg","width":100,"height":60},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/-1x240.jpg","content_type":"image/jpg","width":427,"height":240},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/-1x500.jpg","content_type":"image/jpg","width":889,"height":500},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/630x420.jpg","content_type":"image/jpg","width":630,"height":420},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/80x80.jpg","content_type":"image/jpg","width":80,"height":80},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/-1x-1.jpg","content_type":"image/jpg","width":1920,"height":1080},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/140x-1.jpg","content_type":"image/jpg","width":140,"height":79},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/120x80.jpg","content_type":"image/jpg","width":120,"height":80},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/620x349.jpg","content_type":"image/jpg","width":620,"height":349},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/765x430.jpg","content_type":"image/jpg","width":765,"height":430},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/840x473.jpg","content_type":"image/jpg","width":840,"height":473},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/120x120.jpg","content_type":"image/jpg","width":120,"height":120},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/620x413.jpg","content_type":"image/jpg","width":620,"height":413},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/380x252.jpg","content_type":"image/jpg","width":380,"height":252},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/380x220.jpg","content_type":"image/jpg","width":380,"height":220},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/220x126.jpg","content_type":"image/jpg","width":220,"height":126},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/750x-1.jpg","content_type":"image/jpg","width":750,"height":422},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/220x220.jpg","content_type":"image/jpg","width":220,"height":220},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/405x270.jpg","content_type":"image/jpg","width":405,"height":270},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/368x-1.jpg","content_type":"image/jpg","width":368,"height":207},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/620x226.jpg","content_type":"image/jpg","width":620,"height":226},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/488x-1.jpg","content_type":"image/jpg","width":488,"height":275},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i71LY26npq4U/v0/1200x-1.jpg","content_type":"image/jpg","width":1200,"height":675},{"url":"htt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class=\"primary-typeface story-element-text\"\u003e\u003ch3\u003eInvestors Brace\u003c/h3\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/a59f932b-005a-42e0-a141-fb216256ffe3","type":"text","family_id":"054eddae-649d-4917-b114-57cbdbf6d080","title":"","id":"a59f932b-005a-42e0-a141-fb216256ffe3","metadata":null,"subtype":null,"text":"\u003ch3\u003eInvestors Brace\u003c/h3\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eCosts still will likely soar for insurance companies and their reinsurers, biting into earnings. As Harvey bore down on the coastline Friday, William Blair \u0026amp; Co., a securities firm that tracks the industry, said the storm could theoretically inflict $25 billion of insured losses if it landed as a “large category 3 hurricane.”\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/2bce42eb-fdac-4fe4-af8d-714dd4104a9a","type":"text","family_id":"32173cd6-9b6c-4c65-8bc5-17040165a4c0","title":"","id":"2bce42eb-fdac-4fe4-af8d-714dd4104a9a","metadata":null,"subtype":null,"text":"\u003cp\u003eCosts still will likely soar for insurance companies and their reinsurers, biting into earnings. As Harvey bore down on the coastline Friday, William Blair \u0026amp; Co., a securities firm that tracks the industry, said the storm could theoretically inflict $25 billion of insured losses if it landed as a “large category 3 hurricane.”\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003ePolicyholder-owned State Farm Mutual Automobile Insurance Co. has the largest share in the market for home coverage in Texas, followed by Allstate Corp., which is publicly traded. William Blair estimated that, in that scenario, Allstate could incur $500 million of pretax catastrophe losses, shaving 89 cents off of earnings per share.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/f5c0371c-c92b-4d3c-ae6b-241d7698b7d6","type":"text","family_id":"fa853f33-04d3-474b-ac9b-9db58ebc5303","title":"","id":"f5c0371c-c92b-4d3c-ae6b-241d7698b7d6","metadata":null,"subtype":null,"text":"\u003cp\u003ePolicyholder-owned State Farm Mutual Automobile Insurance Co. has the largest share in the market for home coverage in Texas, followed by Allstate Corp., which is publicly traded. William Blair estimated that, in that scenario, Allstate could incur $500 million of pretax catastrophe losses, shaving 89 cents off of earnings per share.\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eInvestors began bracing for losses last week. But many didn’t believe that Harvey could wipe out bonds that were issued to protect insurers against storm damage in the region, according to Brett Houghton, a managing principal at Fermat Capital Management. His firm manages more than $5 billion, with allocations to catastrophe bonds.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/20ffafaf-9d6e-4292-babf-d25b694529f6","type":"text","family_id":"15457206-cf5f-4d74-8e43-0995e0cab86d","title":"","id":"20ffafaf-9d6e-4292-babf-d25b694529f6","metadata":null,"subtype":null,"text":"\u003cp\u003eInvestors began bracing for losses last week. But many didn’t believe that Harvey could wipe out bonds that were issued to protect insurers against storm damage in the region, according to Brett Houghton, a managing principal at Fermat Capital Management. His firm manages more than $5 billion, with allocations to catastrophe bonds.\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eThe Swiss Re Cat Bond Price Return Index dropped 0.44 percent in the week ended Aug. 25, the steepest decline since January. The benchmark is recalculated every Friday, so it’s unclear how the debt performed as the storm continued through Sunday. Reinsurers, which provide a backstop for primary carriers, also may get burned. That group include Bermuda-based companies Arch Capital Group Ltd., Axis Capital Holdings Ltd. and RenaissanceRe Holdings Ltd., according to a note last week from Meyer Shields, an analyst at Keefe, Bruyette \u0026amp; Woods.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/ee50b267-b6c1-4210-b7ea-dee3f17ace98","type":"text","family_id":"85f4b032-86ca-4ffa-9979-13f6e5ae4769","title":"","id":"ee50b267-b6c1-4210-b7ea-dee3f17ace98","metadata":null,"subtype":null,"text":"\u003cp\u003eThe Swiss Re Cat Bond Price Return Index dropped 0.44 percent in the week ended Aug. 25, the steepest decline since January. The benchmark is recalculated every Friday, so it’s unclear how the debt performed as the storm continued through Sunday. Reinsurers, which provide a backstop for primary carriers, also may get burned. That group include Bermuda-based companies Arch Capital Group Ltd., Axis Capital Holdings Ltd. and RenaissanceRe Holdings Ltd., according to a note last week from Meyer Shields, an analyst at Keefe, Bruyette \u0026amp; Woods.\u003c/p\u003e"},{"description":"","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/79f82610-7880-4b1b-9d12-90b26a03b8fc","type":"external-file","family_id":"e3aea50c-c6bc-4bb8-b9e5-34c2434177a0","title":"","file_type":"image","id":"79f82610-7880-4b1b-9d12-90b26a03b8fc","url":"http://resource.bloomberg.com/images/317075357","content_type":"quintype/multiple","metadata":{"data_id":"317075357","urls":[{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/-1x-1.jpg","content_type":"image/jpg","width":2000,"height":1334},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/135x-1.jpg","content_type":"image/jpg","width":135,"height":76},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/-1x399.jpg","content_type":"image/jpg","width":710,"height":399},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/116x68.jpg","content_type":"image/jpg","width":116,"height":68},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/140x140.jpg","content_type":"image/jpg","width":140,"height":140},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/180x240.jpg","content_type":"image/jpg","width":180,"height":240},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/300x172.jpg","content_type":"image/jpg","width":300,"height":172},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/360x240.jpg","content_type":"image/jpg","width":360,"height":240},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/630x354.jpg","content_type":"image/jpg","width":630,"height":354},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/300x400.jpg","content_type":"image/jpg","width":300,"height":400},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/100x60.jpg","content_type":"image/jpg","width":100,"height":60},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/-1x240.jpg","content_type":"image/jpg","width":427,"height":240},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/-1x500.jpg","content_type":"image/jpg","width":889,"height":500},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/630x420.jpg","content_type":"image/jpg","width":630,"height":420},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/80x80.jpg","content_type":"image/jpg","width":80,"height":80},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/-1x-1.jpg","content_type":"image/jpg","width":1920,"height":1080},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/140x-1.jpg","content_type":"image/jpg","width":140,"height":79},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/120x80.jpg","content_type":"image/jpg","width":120,"height":80},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/620x349.jpg","content_type":"image/jpg","width":620,"height":349},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/765x430.jpg","content_type":"image/jpg","width":765,"height":430},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/840x473.jpg","content_type":"image/jpg","width":840,"height":473},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/120x120.jpg","content_type":"image/jpg","width":120,"height":120},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/620x413.jpg","content_type":"image/jpg","width":620,"height":413},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/380x252.jpg","content_type":"image/jpg","width":380,"height":252},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/380x220.jpg","content_type":"image/jpg","width":380,"height":220},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/220x126.jpg","content_type":"image/jpg","width":220,"height":126},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/750x-1.jpg","content_type":"image/jpg","width":750,"height":422},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/220x220.jpg","content_type":"image/jpg","width":220,"height":220},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/405x270.jpg","content_type":"image/jpg","width":405,"height":270},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/368x-1.jpg","content_type":"image/jpg","width":368,"height":207},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/620x226.jpg","content_type":"image/jpg","width":620,"height":226},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/488x-1.jpg","content_type":"image/jpg","width":488,"height":275},{"url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHDYXddqLwGI/v0/1200x-1.jpg","content_type":"image/jpg","width":1200,"height":675},{"url":"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class=\"primary-typeface story-element-text\"\u003e\u003ch3\u003eInterrupting Business\u003c/h3\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/524146bc-a920-4445-9d0e-6d45dda9982b","type":"text","family_id":"29b0d123-dd45-4d9b-a226-97a5e70396fa","title":"","id":"524146bc-a920-4445-9d0e-6d45dda9982b","metadata":null,"subtype":null,"text":"\u003ch3\u003eInterrupting Business\u003c/h3\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eBusinesses are probably better covered than individuals. Companies across the retailing, manufacturing, health-care and hospitality industries will be seeking reimbursements from insurers for lost revenue during the storm and subsequent repairs, said Aon’s Jill Dalton, who helps manage claims.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/cf26097a-8c69-4c70-9374-2b30b1c7976f","type":"text","family_id":"7de7507e-cc29-4067-900d-8f94c726b734","title":"","id":"cf26097a-8c69-4c70-9374-2b30b1c7976f","metadata":null,"subtype":null,"text":"\u003cp\u003eBusinesses are probably better covered than individuals. Companies across the retailing, manufacturing, health-care and hospitality industries will be seeking reimbursements from insurers for lost revenue during the storm and subsequent repairs, said Aon’s Jill Dalton, who helps manage claims.\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003eBut for Texas’s massive energy industry, it’s still too early to project how badly the storm will disrupt supply and distribution. That’s because the devastation keeps spreading.\u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/ec9676e3-98a9-438c-b01c-0041e5110159","type":"text","family_id":"2ac426c3-df1f-4ef2-949a-edbda18d8ec7","title":"","id":"ec9676e3-98a9-438c-b01c-0041e5110159","metadata":null,"subtype":null,"text":"\u003cp\u003eBut for Texas’s massive energy industry, it’s still too early to project how badly the storm will disrupt supply and distribution. That’s because the devastation keeps spreading.\u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp\u003e“If it continues to rain, I just don’t think the situation is going to get better any time soon,” said Rick Miller, who leads Aon’s U.S. property practice. “In fact, it could get a lot worse.” \u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/e029422a-becd-4b88-b450-0c1817e9a69c","type":"text","family_id":"84bdca15-5aee-49be-906d-b283ecac78ed","title":"","id":"e029422a-becd-4b88-b450-0c1817e9a69c","metadata":null,"subtype":null,"text":"\u003cp\u003e“If it continues to rain, I just don’t think the situation is going to get better any time soon,” said Rick Miller, who leads Aon’s U.S. property practice. “In fact, it could get a lot worse.” \u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp class=\"news-rsf-assists\"\u003e--With assistance from Katherine Chiglinsky and Prashant Gopal \u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/9d2da5e2-29da-4774-a269-ac6812a41894","type":"text","family_id":"549e6ce7-8381-4642-ab86-68be4fa28672","title":"","id":"9d2da5e2-29da-4774-a269-ac6812a41894","metadata":null,"subtype":null,"text":"\u003cp class=\"news-rsf-assists\"\u003e--With assistance from Katherine Chiglinsky and Prashant Gopal \u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp class=\"news-rsf-contact-reporter\"\u003eTo contact the reporter on this story: Sonali Basak in New York at sbasak7@bloomberg.net. \u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/5d20174a-4f79-4228-abf1-31a6ac5b05ac","type":"text","family_id":"a9cfad79-e51b-4743-8b94-e91fbced0019","title":"","id":"5d20174a-4f79-4228-abf1-31a6ac5b05ac","metadata":null,"subtype":null,"text":"\u003cp class=\"news-rsf-contact-reporter\"\u003eTo contact the reporter on this story: Sonali Basak in New York at sbasak7@bloomberg.net. \u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e\u003cp class=\"news-rsf-contact-editor\"\u003eTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Steve Dickson, Steven Crabill \u003c/p\u003e\u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/70fdbd8f-6f12-4706-84f8-163f7842fad1","type":"text","family_id":"6a842a69-37c0-4c56-9188-7bb09bc5bfa7","title":"","id":"70fdbd8f-6f12-4706-84f8-163f7842fad1","metadata":null,"subtype":null,"text":"\u003cp class=\"news-rsf-contact-editor\"\u003eTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Steve Dickson, Steven Crabill \u003c/p\u003e"},{"description":"","amp_html":"\u003cdiv class=\"primary-typeface story-element-text\"\u003e \u003c/div\u003e","page_url":"/story/347e9a89-7a77-4ba9-b789-d62fbe46ba6a/element/6b5d3d7b-cc7e-4374-a3d6-048446935d9e","type":"text","family_id":"ebd378b1-127c-48e3-9d69-e8ce3703ce24","title":"","id":"6b5d3d7b-cc7e-4374-a3d6-048446935d9e","metadata":null,"subtype":null,"text":" "}],"card_updated_at":1504095131917,"content_version_id":"0fa203a9-c112-4de8-b6e0-4eb6232b6795","card_added_at":1503877105548,"status":"draft","id":"76e2893b-d24a-4c56-9703-2cc7bccd0d61","content_id":"76e2893b-d24a-4c56-9703-2cc7bccd0d61","card_updated_at_human_readable":"August 30, 2017 at 12:12 PM","version":262,"metadata":{"social_share":{"shareable":false,"title":"Harvey Costs Seen at Catastrophic Levels With Many Uninsured","message":"Costs are likely soar for insurance companies and their reinsurers, biting into earnings.","image":null}}}],"story_version_id":"af1665c2-1064-4e23-a835-0c38c50e73a5","content_type":"story","content_updated_at":1504095156953,"author_id":28535,"owner_id":44365,"hero_image_amp_html":"\u003camp-img height=\"250\" layout=\"responsive\" src=\"//thumbor.assettype.com/null\" tabindex=\"0\" width=\"400\"\u003e\u003cfigcaption class=\"caption secondary-typeface\"\u003e\u003c/figcaption\u003e\u003c/amp-img\u003e","linked_story_ids":[],"access":null,"first_published_at":1503874395000,"hero_image_caption":null,"version":270,"story_template":null,"sequence_no":null,"created_at":1504095131875,"authors":[{"id":28535,"name":"Sonali Basak","slug":"sonali-basak","avatar_url":null,"avatar_s3_key":null,"twitter_handle":null,"bio":null}],"metadata":{"imported_card_is_read_only":true,"story_attributes":{"syndicatedfrom":["bloomberg"],"avmmids":["317075332","317075289","","317056421"]},"original_url":"https://www.bloomberg.com/news/articles/2017-08-27/harvey-s-cost-reaches-catastrophe-as-modelers-see-many-uninsured","external_hero_image":{"url":null,"content_type":null,"caption":""},"imported_card_id":"76e2893b-d24a-4c56-9703-2cc7bccd0d61","card_share":{"shareable":false}},"publish_at":null,"assignee_name":"Admin BQ","url":"/business/2017/08/27/harvey-s-cost-reaches-catastrophe-as-modelers-see-many-uninsured","time_in_minutes":5,"anchor":{"anchor_start":"Stay updated with","anchor_text":"Business news","anchor_end":"on BloombergQuint"}},
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