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87 87 INVESTMENT PROPERTY PRESERVATION TECH INVESTMENT GOVERNMENT PROPERTY PRESERVATION TECH ESTIMATING PROPERTY DAMAGE CAUSED BY HURRICANE DELTA Mere weeks after Hurricane Laura delivered the most intense storm to hit the northwestern Gulf Coast since 1856, Hurricane Delta ravaged a similar path, making landfall near Creole, Louisiana as a mid-Cat. 2 storm. CoreLogic, a provider of property data and analysis that has been tracking disaster-related losses throughout 2020 (via its 2020 CoreLogic Storm Surge Report) published its latest findings, which revealed $0.8 to $1.5 billion additional damage to the Delta-impacted areas. Actual damages did not reach worst-case projections. Just before landfall in Cameron Parish, about 15 miles east of where Hurricane Laura devastated communities in late August, Delta weakened, CoreLogic reported. Still, company representatives say property owners and insurers face significant work ahead. "Recovery from Hurricane Delta will likely be exacerbated due to ongoing rebuilding efforts following Hurricane Laura," said Tom Larsen, Principal, Insurance Solutions at CoreLogic. "Damage from Hurricane Laura extended inland and concentrated on roofs and exterior building cladding, and Delta's impact could have a double-jeopardy impact. For homeowners, it is critical to work hand-in- hand with insurers to understand their coverage and financial responsibility." e report includes information about insurance laws and deductibles in Louisiana that could prove crucial. For example, CoreLogic reported, "In 2009, Louisiana passed legislation mandating a single annual hurricane deductible for homeowners. It is expected that most insured homes with damage from the two hurricanes in 2020—Laura and Delta—will be subject to only a single hurricane deductible, unless a homeowner has changed insurance carriers between storms." As for flooding, CoreLogic reported that homeowner's insurance typically excludes flood damages. "e predominant insurer of flood coverage of homes in Louisiana is the National Flood Insurance Program (NFIP) which is federally regulated. e NFIP policy is a loss- occurrence-based policy and these two storms are expected to be treated as separate flood events." Journal