Harvey threatens severe commercial flood loss

As the floodwaters continue to rise in Houston, insurers are
beginning to assess what looks to be a complicated claims situation
that makes predicting ultimate industry losses from Hurricane
Harvey highly challenging.
Much of the news coverage has naturally concentrated on the
humanitarian side, as rescues and evacuations continue.
But for the insurance industry, the consensus at this point is
that the storm is predominantly a commercial flood event - at least
in terms of the claims quantum face