Harvey makes landfall as Category 4 hurricane, 130mph winds

by Artemis on August 26, 2017

Hurricane Harvey made landfall around 03:00 UTC having intensified further as it approached the Texas coastline to a Category 4 storm with 130 mph sustained winds and a minimum central pressure of 938mb, according to NOAA data.

Landfall was made between Port Aransas and Port O’Connor, Texas, 4 miles east of Rockport and around 30 miles east-north-east of Corpus Christi.

Hurricane Harvey satellite image at landfall

Hurricane Harvey satellite image at landfall

Moving slowly, Hurricane Harvey is forecast to cause catastrophic flooding in the area, with a storm surge having inundated coastal and low-lying areas and torrential, sustained rainfall expected over the coming hours and days as the storm meanders around the Texas south.

Now, approximately four hours after landfall, hurricane Harvey is weakening but still a Category 3 storm with winds of 115 mph and central pressure of 950mb.

The coast continues to be affected by a life-threatening storm surge, with NOAA reporting a water level buoy has recorded 6.3 foot above normal in the Port Lavaca, Texas area.

Media reports of property damage are coming out of Texas, but being night information about the extent of damage caused by Harvey is limited.

Hurricane Harvey’s impacts will continue for some days to come and the flood threat is significant. This will make establishing the eventual insurance and reinsurance industry impact much more complex and could exacerbate the eventual financial impact to the state of Texas and the reinsurance industry.

We’ll be providing some updates as information from reinsurance and ILS industry sources comes in.

Also read:

Half of hurricane Harvey loss could fall to reinsurance: J.P. Morgan.

Hurricane Harvey – catastrophe bond exposure.

As Harvey nears Texas, analysts highlight re/insurers risk of losses.

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