Hurricane Helene landed in September 2024, leaving a trail of destruction across the southeastern United States. According to USA Today, the storm impacted power infrastructure, flood insurance availability, emergency response efforts, and civilians’ daily lives.
One of Hurricane Helene’s most immediate impacts was the extensive power outages reported across North Carolina. According to NPR, more than 600,000 homes and businesses statewide were without power on Sept. 28. The storm’s winds, which reached up to 100 mph in some areas, caused widespread damage to power lines and substations, worsening the crisis. USA Today revealed that blocked roads and downed trees in coastal and eastern regions further complicated recovery efforts.
Governor Roy Cooper noted that “this is a historic and catastrophic storm for Western North Carolina.”
According to NPR, given the difficulty of emergency services reaching people affected by the storm, the aftermath of Hurricane Helene has brought at least 64 fatalities reported across several states, including Florida, Georgia, North Carolina, South Carolina, and Virginia. This included three firefighters, a mother and her one-month-old twins, and an 89-year-old woman.
Inspecting the damage to his house in Horseshoe Beach, Fla., David Hester reflected on the struggles many are experiencing. “I mean, everybody is just kind of in shock and just trying to pick up the pieces. I mean, nobody expected it like this,” he said.
Residents throughout the affected regions also expressed similar disbelief. Due to the storm’s aftermath, rescue operations have become more complex, with over 2.6 million homes and businesses without power and severe flooding continuing to threaten communities.
In North Carolina, disaster response teams described the situation as “biblical flooding,” with over 150 swift water rescues in Buncombe County alone. The county’s assistant emergency services director, Ryan Cole, stated, “swift water rescues are still occurring throughout the county.”
In addition to power outages, flooding emerged as a critical issue in the aftermath of Hurricane Helene. According to the Washington Post, the storm brought unprecedented rainfall, leading to flash floods that inundated homes and businesses across several counties. Property damage estimates range from $15 billion to $26 billion.
The Washington Post also noted that many homeowners were unprepared for flooding, with many lacking adequate insurance. The lack of coverage became a pressing concern as residents assessed the extent of their losses. Estimates indicate that nearly 70 percent of homeowners in affected areas did not have flood insurance, so many faced the prospect of repairing their homes without financial support.
United Policyholders Executive Director Amy Bach said, “we have seen so many companies go belly up because of disasters.” Bach added that the insurance landscape has been unstable, with some companies abandoning the state entirely, while others hesitate to issue new policies in high-risk coastal areas. “A wave of new insurance claims could send them into bankruptcy,” she warned.
Before Helene hit, many Floridians were still waiting on claims from Hurricane Ian in 2022. Experts have expressed concerns about the ability of newer, less experienced insurers to handle an influx of claims, as these companies often lack the capital necessary to support widespread damage.
Assistant Professor of Finance at Columbia Business School Parinitha Sastry added that although the destruction was not as significant as other recent hurricanes, “[i]t’s still a huge shock.”
