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