And an earlier estimate from the analytics firm CoreLogic showed that Harvey, which is now a tropical storm, could cause as much as $40 billion total in damage. But in Harvey's case, storm surge damage brought by the storm's winds likely won't be as extensive as inland flood damage from rivers that overflow their banks, Dailey said. Ordinarily, Watson said a hurricane like Harvey might cause less than $5 billion in economic damage. But the floods could cause that number to balloon, and additional factors could make Harvey a $30 billion storm. Related: 10 refineries close as Harvey drenches Texas energy hubHe compared the rainfall from Harvey to that of Tropical Storm Allison, a 2001 disaster in the same region that caused about $12 billion in damage.

Source: CNN August 28, 2017 19:55 UTC