Hurricane Harvey Texas Flood Damage May Match Katrina !

Flood damage in Texas from Hurricane Harvey may equal that from 2005's Hurricane Katrina , the costliest natural disaster in U.S. history, said an insurance research group on Sunday.

As heavy rain pounded Houston and Texas's coastal counties, the Insurance Information Institute said it was still too soon to make precise estimates of the damage to homes and businesses.
"It could be a flood loss like Katrina because of the amount of water that's coming in ... not as much wind as it will be water," said institute spokeswoman Loretta Worters.

Hurricane Katrina resulted in more than $15 billion in flood insurance losses in Louisiana and Mississippi that were paid by the National Flood Insurance Program (NFIP), a federal program that is the only source of flood insurance for most Americans.
But Andrew Siffert, the resident Meteorologist at insurance broker BMS Group said it was easy to understand that Harvey will easily reach well over $10 billion in economic loss, and estimated the insured loss at over $5 billion. That figure did not include money that would be paid by NIFP, he added.