Population growth and asset concentration push Florida hurricane risk to $300bn: Swiss Re
3 Articles
3 Articles
Population growth and asset concentration push Florida hurricane risk to $300bn: Swiss Re
New research from Swiss Re Institute has suggested a category 5 hurricane striking Miami or Tampa Bay today could generate insured losses of $300 billion or more, underscoring how population growth and rising asset concentration in exposed areas are driving up the potential for insured natural catastrophe losses worldwide. The findings arrive close to the centenary of the Great Miami Hurricane, which made landfall in Miami-Dade as a category 4 s…
Bryan Norcross: 100 Years ago this morning a monster hurricane was two days out from Miami
The weather map had the South Florida newspapers flummoxed. A 40-mph tropical storm had been drifting offshore of Miami. Its fringes produced gusty winds along the coast and about 2 inches of rain. Meanwhile, a monster hurricane was north of Puerto Rico and on a track aimed at South Florida. But nobody yet understood the threat.
In September, exactly a hundred years ago, the legendary "Great Miami Hurricane" hit the coast of South Florida and left a picture of devastation in the then still young, rapidly growing city. A century later, a current risk analysis by the Swiss Re Institute reveals the extent of the increased vulnerability. A Category 5 hurricane that now hits land in the Miami area or Tampa Bay could cause insured damage of $300 billion or more. The article S…
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