Helene And Milton Are Both Likely To Be $50 Billion Disasters
5 weeks ago
Monstrous hurricanes Helene and Milton caused so much complex havoc that damages are still being added up.
Economics, insurance and risk experts believe the storms are likely to be in the pantheon of super-costly $50 billion disasters. That would put them in the company of storms like Katrina, Sandy and Harvey. Making those costs even more painful is that most of that damage, particularly in Helene’s case, was not insured.
Several experts say damages are skyrocketing because people are building in harm’s way, reconstruction costs are soaring faster than inflation and human-caused climate change is making storms stronger and wetter.
Economics, insurance and risk experts believe the storms are likely to be in the pantheon of super-costly $50 billion disasters. That would put them in the company of storms like Katrina, Sandy and Harvey. Making those costs even more painful is that most of that damage, particularly in Helene’s case, was not insured.
Several experts say damages are skyrocketing because people are building in harm’s way, reconstruction costs are soaring faster than inflation and human-caused climate change is making storms stronger and wetter.
