(Bloomberg) -- Estimates for damages caused by Hurricane Harvey are climbingwith the storm poised to regain strength in the Gulf of Mexicobefore crashing back on land.

Economic losses

Risk modeler Chuck Watson of Enki Research on Tuesday lifted his projection foreconomic losses to $42 billion, up about $12 billion fromMonday.

“We have assumed more damage and obstruction to the drainage andflood-control systems than was the case yesterday,” he said in anote to clients.

Flood damage coverage

Analysts including David Havens at Imperial Capital have estimatedthe costs could top $100 billion, potentially causing more havocthan Hurricane Katrina in 2005, which spurred at least $118 billionof losses. About 47% of that was insured, while insurance brokershave said a lower portion of Harvey’s costs will be covered becauseregular homeowners’ policies don’t include flood damage.

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