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Henri Losses May Reach $4 Billion as Heavy Rains Trigger Floods

  • Tropical storm delivered more of a punch due to heavy rainfall
  • Weekend rainstorms in Tennessee also brought deadly deluge
Henri flooded streets in Helmetta, New Jersey.
Henri flooded streets in Helmetta, New Jersey.Photographer: Tayfun Coskun/Anadolu Agency/Getty Images

Flooding from Tropical Storm Henri may cause as much as $4 billion in losses after drenching the U.S. Northeast with record rainfall.

Most of the amount will be due to materials and labor needed to repair damaged homes and businesses, as well as economic losses tied to power outages, according to Chuck Watson, a disaster modeler with Enki Research. The final figure won’t be available for months, and losses may wind up being as low as $1 billion, he said, adding that estimating economic impact from floods is difficult.