Paying for Future Catastrophes – NYTimes.com

November 25, 2012 The Incidence of Extreme Disasters is Increasing:  HURRICANE SANDY could cost the nation a staggering $50 billion, about a third of the cost of Hurricane Katrina — to date the most costly disaster in United States history.  Pictured above, Hurricane Sandy pulled a cabana complex in Sea Bright, N.J., off its foundations.

But Hurricane Sandy was not an isolated event. Indeed, the incidence of extreme events is far more frequent. Twenty of the 30 most expensive insured catastrophes worldwide from 1970 to 2011 have occurred since 2001 — and 13 of them were in the United States. Aside from the 9/11 terrorist attacks, all were natural disasters. The increase is most likely because of the location in high-risk areas of more people, and more valuable properties, along with a changing climate.

What’s next? And who will pay?  Follow the link below for the complete story.

The Master of Disaster

Paying for Future Catastrophes – NYTimes.com.

About wfoster2011

Disaster researcher and current financial and economic news and events: Accidents, economics, financial, news, nature, volcanoes, floods, earthquakes, fires; airplane, ship & train wrecks; tornadoes, mine cave-ins, hurricanes, pestilence, blizzards, storms, tzuami's, explosions, pollution, famine; heat & cold waves; nuclear accidents, drought, stampedes and general. Futures trader using high volume and open interest futures markets. Also, a financial, weather and mundane astrologer with over 30 years of experience. Three University degrees from California State University Northridge: BS - Accounting MS - Busines Administration BA - Psychology Served in the U. S. Army as an Armored Platoon Leader in the 5th Battalion, 68th Armored Regiment, 8th Infantry Division (Retired). Have published three books and 36 articles available for sale through my blog: Commodology - Secret of Soyobeans (Financial Astrology) Timing is the Key (Financial Astrology) Scum City, a fiction novel (no longer available, under contract to major publisher) Currently resident of Las Vegas, NV, USA
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