Why Americans pay so much more than anyone else for weather disasters
==========
A new report from Swiss Re shows that the U.S. follows only the Philippines in weather damages. Property damages from hurricanes, severe convective storms, flooding, and winter storms cost nearly 0.4 percent of U.S. GDP every year. The United States experienced 28 billion-dollar disasters last year, costing an estimated $93 billion. Americans face challenges in getting compensated for their losses, as only about half of the property damages from recent severe weather events were insured. Rising insurance rates and limited coverage in flood- or wildfire-prone areas contribute to Americans' high cost of living. Adapting to climate change now can prevent damages later on, with a dollar invested in aligning construction with new building codes saving between $6 and $10 down the road. Only 31 percent of jurisdictions in the United States have adopted updated building codes. The report emphasizes that every country is being impacted by weather disasters.
#WeatherDisasters #PropertyDamages #InsuranceRates #ClimateChange #BuildingCodes
https://www.washingtonpost.com/climate-environment/2024/03/16/us-disaster-costs-second-world/
The Washington Post /
npub1nw…97m8h
2024-03-16 11:58:06
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npub1nwad78hejfewj63p264uf2sxh0a5az753pw7auscrlupefjtr27sp97m8hPublished at
2024-03-16 11:58:06Event JSON
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"content": "Why Americans pay so much more than anyone else for weather disasters\n==========\n\nA new report from Swiss Re shows that the U.S. follows only the Philippines in weather damages. Property damages from hurricanes, severe convective storms, flooding, and winter storms cost nearly 0.4 percent of U.S. GDP every year. The United States experienced 28 billion-dollar disasters last year, costing an estimated $93 billion. Americans face challenges in getting compensated for their losses, as only about half of the property damages from recent severe weather events were insured. Rising insurance rates and limited coverage in flood- or wildfire-prone areas contribute to Americans' high cost of living. Adapting to climate change now can prevent damages later on, with a dollar invested in aligning construction with new building codes saving between $6 and $10 down the road. Only 31 percent of jurisdictions in the United States have adopted updated building codes. The report emphasizes that every country is being impacted by weather disasters.\n\n#WeatherDisasters #PropertyDamages #InsuranceRates #ClimateChange #BuildingCodes\n\nhttps://www.washingtonpost.com/climate-environment/2024/03/16/us-disaster-costs-second-world/",
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