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Analysts Predicting $10B in Damage from Tropical Storm Barry

Currently slow moving 85 miles off shore in the Gulf of Mexico at 66 mph, Tropic Storm Barry is predicted to cause around $10B in damage and claims.

Analysts Predicting $10B in Damage from Tropical Storm Barry

Over 74 mph winds Barry with be classified a hurricane.

Tropical Storm Barry is moving towards Louisiana now at less than 3 mph. Some areas of Louisiana already experiencing flooding.

Voluntary or mandatory evacuation has been put into effect. AccuWeather is now reporting curfew and stay in place orders are NOW in effect. Thousands of residents already without power.

Expected to hit land 100 miles west of New Orleans by early morning. The longer Barry spends over the warm Gulf of Mexico air the better chance Barry has of becoming a hurricane.

Barry is the first of the 2019 storm season.

Insurance professionals are unsure as of yet of claims and hopeful for minimal damage.

Some professionals, agents and agencies have been testing usage based insurance within various insurance verticals and segments to help understand and better underwrite related risk.

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