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Reinsurance News: Harvey could take $60 billion off Houston’s GDP output in a year

The economy of Houston, Texas, could lose up to $60 billion in gross domestic output in the next year due to Hurricane Harvey floods, according to an analysis by the Cambridge Centre for Risk Studies. This is in addition to physical loss costs. The analysis examined potential economic loss through a model that looks at lost sales, revenues, and other economic outputs that could be lost to business in the region.

Read the full article [reinsurancene.ws]