So far, National Flood Insurance Program (NFIP) policyholders have filed for more than 54,000 claims following Hurricane Helene, the US Federal Emergency Management Agency (FEMA) reported.

Helene was the sixth named storm of the 2024 Atlantic hurricane season and the fourth to make landfall in the US. It made landfall west-southwest of Perry in Taylor County, Florida on September 27 as a Category 4 hurricane with maximum sustained winds of 140 mph. .

Although these are claims submitted by policyholders, not the number of claims payments made, the figure of 55,000 is a large number for an NFIP loss event and could be among the costliest flood events it has ever responded to.

FEMA said of Helene that as of Oct. 25, “More than 54,000 National Flood Insurance Program policyholders who suffered flood damage from Helene in affected states have filed claims.

“As of today, policyholders have received approximately $480 million to repair their properties and replace their contents.”

By comparison, FEMA reported making 47,000 claim payments for Hurricane Ian in 2022, an event that resulted in more than $4.5 billion in claim payments.

As Reinsurance News understands, NFIP claims for Helene will continue to be filed in the coming weeks as some of the more devastated regions are only now becoming more accessible.

How those 55,000 claims that have been filed, as well as any additional claims filed in the coming weeks, translate into actual claim payments will be critical in defining Helene’s eventual impact on the NFIP.

At the same time, Hurricane Milton is also likely to be a significant loss event for the NFIP, particularly in Florida.

Hurricane Milton made landfall in Sarasota County (Siesta Key) on the east coast of Florida on October 9 as a Category 3 hurricane, bringing strong winds, heavy rainfall, tornadoes and storm surges, resulting in loss of life, property damage . and infrastructure and power outages.

According to the KCC, unlike Helene, most of the damage in Milton was caused by wind.