The report found reconstruction costs have shown a meaningful increase over the last two years. This has left homeowners and insurers alike struggling to keep up as extreme catastrophic weather invents increase in frequency and impact. (Credit: Sepp photography/Shutterstock) The report found reconstruction costs have shown a meaningful increase over the last two years. This has left homeowners and insurers alike struggling to keep up as extreme catastrophic weather events increase in frequency and impact. (Credit: Sepp photography/Shutterstock)

One in ten homes was affected by natural disaster in 2021, with nearly $57 billion in property damage reported, says the 2021 Climate Change Catastrophe Report from CoreLogic. The report also found reconstruction costs have shown a meaningful increase over the last two years. This has left homeowners and insurers alike struggling to keep up as climate change causes extreme catastrophic weather events to increase in frequency and impact.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 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.

Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].

Weather Risk