Contents AIR Currents Special Edition
AIR Currents OctOBER 22 2013 Special Edition What the Top 5 Historical U.S. Hurricanes and Earthquakes Would Cost Today Many historical disasters, were they to calculated for the top five historical U.S. The most devastating historical happen today, would cause far more hurricanes and earthquakes, based on earthquakes happened not in California insured loss than any recent event. Only today’s replacement values. but in the central U.S., where Missouri, Hurricane Katrina, at insured losses of Tennessee, and Kentucky come together. USD 45 billion, would make it into the The most expensive hurricane would The earthquake “triplet” that struck top five historical hurricanes; Sandy, at be the Miami Hurricane of 1926. This the New Madrid Seismic Zone in the over USD 18 billion, doesn’t even make Category 4 storm devastated Miami, winter of 1811-1812 occurred when the the top 10. Only one earthquake in the the Florida Panhandle, and Alabama. It region was sparsely populated. Today, last 100 years—the 1994 Northridge is estimated that between 25,000 and a recurrence of this event would cause earthquake—would make the top five 50,000 people in the Miami area were insured losses in excess of USD 110 billion. list for that peril. left homeless (out of a population of about 100,000), and nearly 370 people Of course, as high as these losses are, Using AIR’s robust simulation were killed. If this event happened today, they do not represent the worst case methodology and detailed industry AIR estimates that insured losses would scenarios. exposure databases, insured losses were reach USD 128 billion.
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