EQECAT Estimates Nanmadol Taiwan Losses
Catastrophe modeling firm EQECAT said Tuesday that Typhoon Nanmadol has caused between $200 million and $600 million worth of insured losses in Taiwan before cutting a path to China.
Losses from the storm will be driven by significant wind and flood damage, EQECAT says, adding that flooding on the western side of the island is expected to contribute significantly to its loss estimate.
The storm — nicknamed “Mina” in Asia — made landfall near Daren in Taitung County as a Category 1 typhoon on Sunday with wind speeds of up to 80 miles per hour.
EQECAT says that the storm traversed west-northwest across Taiwan, dumping up to 600 mm of rainfall on the southeast and eastern coastal regions of the country. In addition, Nanmadol also caused storm surge 4 feet to 5 feet above the normal tide on the eastern coast of Taiwan.
Nanmadol is forecast to move west-northwest and make landfall on China in the next few hours, the firm added.
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