CoreLogic estimates between $1 – $1.5 billion insurable losses across the Windward Islands
Hurricane Beryl — the second named storm and first hurricane of the 2024 season — made landfall over Carriacou Island of Grenada at 11:10 a.m. local time (3:10 p.m. UTC) on Monday, July 1. The National Hurricane Center (NHC) estimated maximum sustained wind speeds of 150 mph and a minimum central pressure of 950 millibars.
The formation of a major hurricane (i.e. Category 3 or stronger) east of the Caribbean Sea this early in hurricane season is unprecedented.
Estimated: Hurricane Wind Losses in the Windward Islands
CoreLogic Hazard HQ Command Central™ estimates that total insurable losses across in Grenada; Barbados; St. Vincent and the Grenadines; Trinadad and Tobago; and St. Lucia could be between $1 and $1.5 billion.
Damage in Grenada is driving the majority of the losses, and weather stations on this island recorded the highest wind speeds from this storm.
The estimated losses include wind-only damage to residential, commercial, industrial, and agricultural properties, including damage to contents and business interruption. Insurable losses account for damage to all modeled exposure types prior to the application of any insurance terms (e.g., deductibles or limits). It does not include losses to any regional insurance pools
Risk Quantification and Engineering® (RQE) model users can download proxy events from the CoreLogic North Atlantic Ocean Hurricane Model on the Client Resource Center (CRC).
About Hurricane Beryl: An Unprecedented, Early-Season Hurricane
Hurricane Beryl is quickly moving west-northwest. While the storm strengthened rapidly over the Main Development Region (MDR) in the Atlantic Ocean, it began to weaken overnight prior to landfall when the hurricane underwent an eye wall replacement cycle. When an eye wall replacement cycle occurs, wind speeds decrease but the storm grows in size, exposing more areas to hurricane-force winds. However, low wind shear and warm sea surface temperatures created optimal conditions for Hurricane Beryl to strengthen to a Category 4 storm again before landfall. At the time of landfall, hurricane-force winds extended approximately 40 miles from the center. Tropical storm-force winds extended outward 125 miles.
![](https://www.corelogic.com/wp-content/uploads/sites/4/2024/07/fig1_beryl_windmap.png)
Putting Beryl in Historical Perspective
In 2004, Hurricane Ivan blew through the Windward Islands as a Category 3 storm. Hurricane Ivan passed just south of Grenada before heading into the Caribbean Sea. The devastation in Grenada after Hurricane Ivan was much worse than what has likely occurred after Hurricane Beryl this week.
Hurricane Ivan passed just south of main island of Grenada (Figure 2) meaning the southern edge of the island saw the strongest winds, which are typically found on the northeastern side of a hurricane. In comparison, Hurricane Beryl passed north of the main island of Grenada, so the smaller islands to the north, including those of St. Vincent and The Grenadines, were hit the hardest.
![](https://www.corelogic.com/wp-content/uploads/sites/4/2024/07/Fig1_Ivantrack-1024x530.png)
According to the NHC, Hurricane Ivan caused extensive damage to homes, buildings, and other structures in Grenada and Barbados, as well as St. Vincent, and the Grenadine Islands. More than 14,000 homes were damaged or destroyed in Grenada. In Barbados, Hurricane Ivan completely destroyed 176 homes. The Caribbean Development Bank estimated that Hurricane Ivan caused approximately $850 million of damage across Grenada, St. Vincent, The Grenadines, and St. Lucia (in 2011 dollars).
What Makes Hurricane Beryl Unique?
Before the NHC named Hurricane Beryl, the storm was a disturbance in the MDR east of the Caribbean Sea. The MDR extends from the eastern edge of the Caribbean towards coastal West Africa and is an area where some of history’s most devastating hurricanes have formed. However, these infamous storms typically form later in the season, during August, September, or October, when wind shear decreases, and ocean temperatures are high enough to sustain hurricanes.
It is very rare for hurricane-friendly conditions to appear in the MDR in late June or early July.
On Saturday, June 28, Beryl strengthened to a Category 1 hurricane with maximum sustained wind speeds of just above 74 mph. Within about 24 hours, Hurricane Beryl rapidly intensified to a Category 4 hurricane prior to impact in the Windward Islands.
Until this season, the earliest Atlantic Ocean Category 4 hurricane in recorded history was Hurricane Dennis in July of 2005. The earliest there has been a major hurricane in the MDR east of the Caribbean was August of 1899.
Future Hurricane Beryl Updates
Hurricane Beryl is not done. According to the NHC, the system will continue moving west toward Mexico’s Yucatan Peninsula. Beryl is expected to weaken in the Caribbean as wind shear increases, but it could still be a potent tropical cyclone.
![](https://www.corelogic.com/wp-content/uploads/sites/4/2024/07/fig3_Beryl_5day.png)
CoreLogic Hazard HQ Command Central will continue to monitor Hurricane Beryl. Updates will be provided if Hurricane Beryl makes another landfall or if additional data becomes available.
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