Historic 2020 hurricane season responsible for $60-65B in economic damage
With 30 named storms, 2020 was the most active season in history, but its overall cost underscores its hyperactivity.
The 2020 Atlantic hurricane season broke all kinds of records this year, but the latest economic damage estimates don’t quite match the level of activity.
Early seasonal forecasts called for an “extremely active” season with 10 to 15 named storms. In the end, the 2020 hurricane season logged a record 30 storms, making it the most active season in recorded history.
Of the 30 named storms, 13 developed into hurricanes, and six further intensified into major hurricanes of Category 3 status or greater. The most destructive hurricanes recorded insured loss estimates into the billions, and some areas were hit more than once.
According to a new report from AccuWeather, the 2020 hurricane season was responsible for $60-65 billion in economic damages. This figure includes property damage as well as wage losses, business losses and bankruptcies, contamination of drinking water, municipal and state costs, federal assistance, cleanup costs and health costs.
The biggest contributor to this year’s loss bill was August’s Hurricane Laura, which tied for the strongest storm to make landfall in the state of Louisiana in recorded history. AccuWeather estimates the Category 4 storm was responsible for $25-30 billion in damages.
Hurricanes Sally, Delta, Zeta, Isaias, and Tropical Storm Beta were other storms that also caused at least $1 billion in damages. Collectively, Hurricanes Eta and Iota trailed close behind with a combined total economic loss in Nicaragua of $740 million, according to Reuters.
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