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The United States saw 11 natural disasters that exceeded $ 1 billion in damage in 2018



This post is part of a series sponsored by CoreLogic.

In the case of natural disasters, 2018 was an eventful year worldwide. Typhoons destroyed the Philippines, Hong Kong, Japan and Oman. Earthquakes caused mass accidents in Indonesia, business interruptions in Japan and structural damage in Alaska. Volcanoes made the news on Hawaii and expanded the island's terrain. Wildfires broke the west coast of the United States; Hurricanes Michael and Florence beaten bay and east coast.

1000-year flood events (or floods said statistically to get a 1 to 1,000 chance of emergence) resumed after one to two years in Maryland, North Carolina, South Carolina, Texas and Wisconsin. Difficult convective storms pelted Dallas, Texas and Colorado Springs, Colorado with great hail while a rash of tornado outbreaks, which spared 82 tornadoes, occurred from Western Louisiana and Arkansas all the way down to southern Florida and up to West Virginia.

According to the National Oceanic and Atmospheric Administration (NOAA) [1

]there were 11 weather and climatic disasters with losses in excess of $ 1 billion in the United States alone. Although last year's billions of dollar events are a decrease over the previous year, both 2017 and 2018 have tracked well above the 2010-2020 average by $ 6 billion in total dollar amounts in one year.

Annually, CoreLogic takes stock of the events that passed to protect homeowners and businesses from the financial devastation that often follows disaster.

Highlights from this year's analysis include:

  • Over 1600 significant flood events occurred in the United States, of which 59 percent were river-related.
  • Residential and commercial flood damage in North Carolina, South Carolina and Virginia from Hurricane Florence is estimated at $ 19 billion to $ 28.5 billion, of which about 85 percent are uninsured.
  • 2018 The Atlantic hurricane season saw 15 named storms, eight of which named hurricanes. Two of these, hurricanes Florence (category 1) and Michael (category 4) made landfalls along the US. This made 2018 the third back-to-back season of the hurricane above the Atlantic average.
  • The number of hectares burned in 2018 is the eighth highest in US history reported by November 30, 2018.
  • A total of 11 Western states had at least one weapon exceeding 50,000 burned hectares; The main states were California and Oregon, each with seven fires that burned more than 50,000 acres.

No one can stop a hurricane in their tracks or solid ground from an earthquake, but with more information and an understanding of the risk, property owners and insurance companies can speed up the recovery and achieve elasticity. This assessment includes an analysis of what the risk and exposure looked like, what happened during the event, and housing and commercial losses that occurred in the aftermath of each remarkable climatic event.

You can read the entire analysis here. For more information and to keep up to date on the events when they happen, visit our Hazard HQ ™ website for information on the risks of natural hazards.

[1] https://www.ncdc.noaa.gov/billions/events

About Dr. Howard Botts, Chief Scientist, Insurance and Spatial Solutions, CoreLogic

With more than 30 years of experience in geographic information systems, dr. Howard Botts leads the CoreLogic team of GIS professionals in geospatial database development efforts to generate and maintain natural risk solutions. Founder of Geospatial Information Provider Proxix Solutions, Botts, joined CoreLogic in 2007 when the company acquired Proxix. An emeritus professor of geography at the University of Wisconsin in Whitewater, Botts is a recognized expert in risky risk solutions and regularly discusses a variety of topics related to the field. His commitment and work helps to answer some of the insurance industry's questions about what has happened and what can happen when it comes to our planet's natural dangers.

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