Aon Estimates Losses From September Flooding in New York City Area

The severe weather in New York City and other spots around the country in late September could end up costing hundreds of millions of dollars in economic and insurance losses, according to global insurance broker Aon’s most recent report on natural catastrophes.

Fueled in part by the remnants of Tropical Storm Ophelia, a high-pressure system caused widespread flooding in eastern states on September 28-29, especially southern New York state. Heavy downpours hit New York City while areas east of the city reported rain totals exceeding 5 inches. JFK Airport and Westchester County recorded more than 8 inches of rain.

“Numerous homes and businesses were damaged, multiple water rescues were carried out, and transportation was severely disrupted due to flood waters,” Aon reported.

Due to the significant flooding in the New York City metro region, along with severe weather impacts in the other regions, Aon estimates that total economic and insured losses could reach into the hundreds of millions,

Outside of New York City, areas in New Jersey and Connecticut also experienced flooding. Other impacted communities included Palm Bay and Titusville in central Florida and the Texarkana region in Texas and Arkansas.

New York officials said no lives were lost due to the severe weather.

Photo: Rain leaks from the ceiling in front of a train before it is taken out of service at a subway station during a rain storm in the Brooklyn borough of New York, US, on Friday, Sept. 29. 2023. Multiple New York City subway lines were shut and streets inundated after torrential rain pelted the metropolitan area, prompting warnings about flooding in the city as well as Long Island, Connecticut and New Jersey.

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Topics New York Profit Loss Flood Aon