Lessons from Historical Hurricanes (Insurance Journal)

Study suggests U.S. can expect a storm that inflicts damages of $10 billion every four years.

A reassessment of the nearly 180 hurricanes that have occurred in United States since 1900 suggests 26 of them would cause damages of $10 billion or more if they occurred today, Insurance Journal reports. The study, by Boston risk modeling firm Karen Clark & Co., suggests the U.S. on average can expect a storm costing $10 billion every four years.

According to the study, past hurricanes would cause significantly more damage today because there are more structures, and more expensive structures, in their path. The study calculates that the Great Miami Hurricane of 1926 would be the most expensive, costing an estimated $125 million if it occurred nowadays, followed by the Okeechobee Hurricane of 1928, which would cost $65 billion.

 

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