Following several years of quiet hurricane seasons, a new report by CoreLogic, a property information and analytics company based in Irvine, Calif., says that as many as 6.8 million homes along the Atlantic and Gulf coasts could be at risk for hurricane storm surges.
This could be an issue as the El Nio weather pattern which normally suppresses hurricanes in the Atlantic Ocean yields to the La Nia pattern, known for generating more tropical storms and hurricanes.
The good news is that the number of homes in the most extreme category has dropped, as has the value of those homes at risk. The study also highlights the total reconstruction cost for homes along the coasts at more than $1.5 trillion.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
