[Insurance Journal] More than 6.8 million homes on the Atlantic and Gulf coasts are in danger of hurricane storm surge damage. The total cost for reconstruction of the homes located in 19 states and the District of Columbia is more than $1.5 trillion, according CoreLogic’s latest storm surge report.
The property information and analytics provider’s 2016 Storm Surge Report release coincides with the June 1 start of the Atlantic hurricane season. Using more advanced and granular data than in previous years, the 2016 analysis shows an increase from 2015 in the overall number of homes at risk of storm surge as well as an increase in the reconstruction cost value (RCV) of these homes. Despite the overall increases, the 2016 more advanced analysis shows a decrease in the most extreme category for both the number and value of homes at risk…