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The Cost of Disaster

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According to a report published by the National Oceanic and Atmospheric Administration (NOAA), the damage caused by Hurricane Harvey alone came in at approximately $125 billion. Just recently, German reinsurer Munich Re released its annual natural catastrophe report , detailing the total disaster losses for insurers around the world.

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Hurricane Harvey Updates

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This has alerted shipping lines and prompted some to entertain rerouting cargo to New Orleans and Alabama, and even as far away as the Bahamas and Mexico. Another option being explored is for carriers to unload cargo at other ports in order to take in lighter loads upon entering Houston. Further details remain unavailable.

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