2023 to Set Record for Natural Disasters
The National Association of Professional Insurance Agents reports record insurance losses for 2023.
Quoted from The National Association of Insurance Agents
“Oceanic and Atmospheric Administration (NOAA) reported that 2023 will set a new record for the highest number of natural disasters with losses over $1 billion. The report counted 24 disasters across the United States so far.
“These events included 1 drought event, 2 flooding events, 18 severe storm events, 1 tropical cyclone event, 1 wildfire event, and 1 winter storm event. Overall, these events resulted in the deaths of 373 people and had significant economic effects on the areas impacted,” according to NOAA.
Since 1980, the United States has experienced an average of 8.5 billion-dollar disasters annually, each year costing $59.9 billion and killing 369 people on average. The number of disasters in the last 5 years has averaged 18 per year, annually costing $124.6 billion and killing 350 people on average. The average rose to 20 disasters per year during the last 3 years. Last year saw the fifth-highest number of disasters at 18 and was the third costliest at $177.6 billion.
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Written by Eddie Carter, Managing Partner
Carter’s Insurance Agency
Published October 18, 2023
