Hurricane Ida remnants caused additional heavy rainfall and flooding in the US northeast last week after the system earlier crossed the Louisiana coastlines as one of the most powerful storms to hit the region.

Modelling firm AIR Worldwide estimates onshore property insured losses from Hurricane Ida’s winds and storm surge will range from $US17-25 billion ($23-34 billion), with the figure including an adjustment for increased material and other repair costs in the current construction market.

“Hurricane precipitation-induced flood losses, including any impacts from flooding as Ida moved through the Northeast, are not included in AIR estimates at this time,” it said.

S&P Global Ratings also says potential insured losses may reach $25 billion ($34 billion) based on early estimates after Ida hit Louisiana with category four strength.

The report says insurers and reinsurers entered this year with strong capital positions and are well positioned to absorb impacts, but reinsurers won’t be unscathed.

“Although it is still too early to fully quantify the insured loss range from Hurricane Ida, it's clear that this is a major event for the sector,” the report says.

“But we expect the potential losses from this event on a stand-alone basis will likely result in an earnings event rather than a capital event.”

Ida crossed the Louisiana coastline on August 29, 16 years to the day after Hurricane Katrina. The latest hurricane was more powerful but smaller in geographical size and caused less devastation as strengthened levee and pumping station defences provided greater protection for New Orleans.

This year’s Atlantic hurricane season, which extends to November, was forecast to be more active than normal.