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The worst natural disasters in the US have caused billions in economic losses. Find out which of these catastrophes cost the insurance industry the most
The US has endured many natural calamities over the years, the destructive effects of which have been felt across the country. With climate change in full swing, the risk of even more devastating catastrophes has since increased.
In this article, Insurance Business ranks the 10 worst natural disasters to hit the nation based on insured losses. The goal is to give you a picture of how much impact these calamities have had on the insurance sector.
1. Hurricane Katrina
Year: 2005
Location: Gulf Coast
Estimated insured property losses: $65 billion
Inflation-adjusted insured property losses: $101.9 billion
Estimated economic losses: $197.5 billion
Deaths: 1,800+
2. Hurricane Ian
Year: 2022
Location: Southeast
Estimated insured property losses: $54 billion
Inflation-adjusted insured property losses: $55.8 billion
Estimated economic losses: $117.4 billion
Deaths: 150+
3. Hurricane Ida
Year: 2021
Location: Southeast, Northeast
Estimated insured property losses: $36 billion
Inflation-adjusted insured property losses: $40.5 billion
Estimated economic losses: $83.1 billion
Deaths: 90+
4. Hurricane Sandy
Year: 2021
Location: Mid-Atlantic
Estimated insured property losses: $30 billion
Inflation-adjusted insured property losses: $39.9 billion
Estimated economic losses: $87.2 billion
Deaths: 230+
5. Hurricane Harvey
Year: 2017
Location: Texas Gulf Coast
Estimated insured property losses: $30 billion
Inflation-adjusted insured property losses: $37.6 billion
Estimated economic losses: $157.5 billion
Deaths: 100+
6. Hurricane Irma
Year: 2017
Location: Southeast, Northeast
Estimated insured property losses: $30 billion
Inflation-adjusted insured property losses: $37.5 billion
Estimated economic losses: $63 billion
Deaths: 130+
7. Hurricane Maria
Year: 2017
Location: Puerto Rico
Estimated insured property losses: $29.5 billion
Inflation-adjusted insured property losses: $36.8 billion
Estimated economic losses: 113.4 billion
Deaths: Around 3,000
8. Hurricane Andrew
Year: 1992
Location: South Florida, South-Central Louisiana
Estimated insured property losses: $16 billion
Inflation-adjusted insured property losses: $34.9 billion
Estimated economic losses: $59.4 billion
Deaths: 65
9. Northridge earthquake
Year: 1994
Location: Southern California
Estimated insured property losses: $15.3 billion
Inflation-adjusted insured property losses: $32.2 billion
Estimated economic losses: $44 billion
Deaths: 57
10. Hurricane Ike
Year: 2008
Location: Atlantic region
Estimated insured property losses: $18.2 billion
Inflation-adjusted insured property losses: $25.6 billion
Estimated economic losses: $42.6 billion
Deaths: 110+
Ready to Rebuild and Recover?
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