Vermont flood losses could total hundreds of millions of dollars: Aon

Economic losses from catastrophic flooding across Vermont earlier this week could reach into the hundreds of millions of dollars or higher, Aon PLC said in a report Friday.

The flooding began July 10 following several days of repetitive shower and thunderstorm activity that led to multiple flash flooding events from the mid-Atlantic region to New England.

Rainfall totals and flood levels in Vermont were comparable to the flooding caused by tropical storm Irene in 2011.

Peak rainfall rates of two to four inches per hour centered over Vermont, producing historic rainfall totals.

Several rivers reached moderate or major flood stages, including the Winooski River at Montpelier, which crested at 21.35 feet on July 11.

As of July 11, all 14 Vermont counties were under a state of emergency, and towns including Montpelier, Ludlow and Londonderry were especially hit hard by flooding. More than 200 rescues were carried out across the state.

“Total economic flood losses can potentially reach into the hundreds of millions of dollars, possibly higher, with more rainfall expected soon,” Aon said in the report.

Elsewhere, heavy rainfall and flooding prompted the evacuation of hundreds of people in Massachusetts, New Hampshire, New York and Pennsylvania.