According to the NOAA, 2020 set a new record for the highest number of billion-dollar disasters in a year, as well as the most money spent on these catastrophic events.
Here's how 2020's numbers compare to previous years:
- From 1980 to 1989, the U.S. averaged 2.9 billion-dollar disasters per year, with an average annual cost of $18.7 billion.
- From 1990 to 1999, the U.S. averaged 5.3 billion-dollar disasters per year, with an average annual cost of $28.9 billion.
- From 2000 to 2009, the U.S. averaged 6.3 billion-dollar disasters per year, with an average annual cost of $54.7 billion.
- From 2010 to 2019, the U.S. averaged 12.3 billion-dollar disasters per year, with an average annual cost of $85.8 billion.
- In 2020 alone, there were 22 billion-dollar disasters with a total cost of $100.2 billion.
There's no question the number of natural disasters is trending steadily upward. According to NOAA, tropical cyclones caused the most damage between 1980 and 2021, followed by drought, severe storms and inland flooding. Severe storms, however, have been the most frequent billion-dollar damage events.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
