Wednesday, December 18

Tag: Hurricane

Hurricane Idalia’s financial toll could reach $20 billion
1Sep By adminNo Comments
Money

Hurricane Idalia’s financial toll could reach $20 billion

As states pummeled by Hurricane Idalia work to clean up, the storm is expected to cause between $12 billion and $20 billion in damage and lost economic activity, according to a new estimate. The hurricane, which killed two people as it battered Florida's Gulf Coast after making landfall on Wednesday, also flooded streets, damaged homes, and downed trees and power lines. Most of the losses stem from damage to property, with coastal counties in the state's Big Bend region taking the brunt of the storm's powerful winds, heavy rain and storm surge, Moody's Analytics analyst Adam Kamins said in a report. Flooding was especially severe in Tampa as well as in Charleston, South Carolina, as Idalia swept north.  "With flooding responsible for much of the damage,...
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Hurricane Idalia shutters Florida airports and cancels more than 1,000 flights
31Aug By adminNo Comments
Money

Hurricane Idalia shutters Florida airports and cancels more than 1,000 flights

Hurricane Idalia is causing major flight disruptions across Florida and beyond after making landfall on the state's Gulf Coast on Wednesday. The storm, which made landfall as a Category 3 hurricane, by Wednesday morning had canceled more than 1,000 flights and delayed nearly 900 more traveling to and from U.S. airports, data from flight-status tracker FlightAware shows. The hurricane has since been downgraded to a Category 1 about 2 1/2 hours after landfall, as wind speeds decreased to 90 mph. Its rating was previously changed to Category 2 roughly an hour after landfall.  Three major Florida airports, including Tampa International Airport, St. Pete-Clearwater International Airport and Sarasota-Bradenton International Airport closed on Tuesday ahead of ...
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Duke Energy braces for power outages as Hurricane Idalia steams toward Florida
29Aug By adminNo Comments
Money

Duke Energy braces for power outages as Hurricane Idalia steams toward Florida

A Florida utility is preparing for power outages as Tropical Storm Idalia chugs toward the state's Gulf Coast region, where it is expected to turn into a Category 3 hurricane before making landfall on Wednesday.Duke Energy said Monday it is mobilizing 4,500 employees, including power line technicians, vegetation workers, damage assessors and support personnel, to respond to any disruptions to the electric grid in potentially affected areas."Duke Energy is actively monitoring Idalia's path, intensity and timing, and staging resources in safe locations to respond to outages as soon as it's safe to do so," Todd Fountain, storm director at Duke Energy Florida, said in a statement. "As we prepare to respond, it's important our customers take this storm seriously and ensure their homes and fami...
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Hurricane Hilary: What Travelers Need to Know
19Aug By adminNo Comments
Travel

Hurricane Hilary: What Travelers Need to Know

As Hurricane Hilary, a Category 4 storm, headed toward the Baja California Peninsula and the Southwestern United States on Friday, sandbags were piling up on beaches in Los Cabos in Mexico and meteorologists forecast the possibility of heavy rain in California as soon as Saturday. On Friday morning, Southern California was placed under its first ever tropical storm watch.While it’s unclear where Hilary will make landfall, this severe weather may disrupt travel and impact flights this weekend, particularly through Los Cabos International Airport in San José del Cabo, Mexico. Here’s what travelers need to know.Where is the storm headed?On Friday afternoon, Hurricane Hilary was moving north toward the Mexican peninsula with sustained winds of up to 145 miles per hour. The storm is expected t...
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The “100-year storm” could soon hit every 11 years. Homeowners are already paying the price.
9Jul By adminNo Comments
Money

The “100-year storm” could soon hit every 11 years. Homeowners are already paying the price.

The growing threat posed by hurricanes is costing Americans money before even a single drop of rain has fallen. Homeowners in Florida and Louisiana have seen dizzying spikes in their insurance rates over the last two years, and those costs are likely to rise even higher, as reinsurers face growing expenses of their own.This year, more than 7 million homes are at risk of a storm surge from a Category 5 hurricane, while more than 32 million face at least a moderate threat of wind damage, according to CoreLogic. In economic terms, $11.6 trillion of property is at risk, the property data provider calculated, a figure that has jumped 15% from last year due largely to inflation in the price of building materials.  "The bigger risk is driven by exposur...
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