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Why 85 Percent of Harvey Insurance Claims Will Likely Be Denied

First water, then red ink: The nightmare of Hurricane Harvey’s deluge of Houston could be exacerbated by the cost of recovery.

Experts say the unique nature of Harvey’s devastation means affected residents — and FEMA’s already-broke flood insurance plan — will be the ones reaching into their pockets to rebuild.

The early figures are fluid and likely to change, probably increasing as the extent of the damage becomes more clear. And early estimates of aggregate losses already vary widely, depending on whether the figure includes insured and uninsured property damage, or indirect impacts like lost worker productivity and economic output.

Texas Gov. Greg Abb…
NBC News Business

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