Hurricane Irene

Hurricane Irene may end up being one of the 10 costliest catastrophes in U.S. history. Industry experts currently put the storm’s damage at $7 billion to $10 billion; however, much of that destruction may not be covered by insurance because it was caused by flooding and not winds. Flooding is often excluded from standard insurance policies.

Cleanup efforts have begun in communities that were devastated by Hurricane Irene over the weekend. Although trucks and supplies from the Federal Emergency Management Agency are en route, access to some areas has been cut off by floodwaters that washed out or damaged roads and bridges. “Irene was gonna land somewhere. We’re not Manhattan, our small streams quickly became big rivers,” Vermont Gov.

Before weakening to a tropical storm, the first hurricane of the season hit the Eastern seaboard with torrential rains, strong winds and floods. Hurricane Irene made landfall on Saturday in North Carolina, moved northward along the coast then slammed into Little Egg Inlet, N.J., as a Category 1 storm. Despite predictions, Irene then lost steam as it lumbered toward New England.

Authorities along the Atlantic seaboard are closely monitoring Hurricane Irene’s projected path, and preparing for the powerful storm’s arrival later in the week. The first major hurricane of the season became a Category 2 storm on Aug. 22, and could strengthen even more in the coming days.