The Insurance Institute for Business & Home Safety examined building policies in 18 Atlantic and Gulf Coast states and found that despite the increasing severity of natural disasters, many of those states have relaxed their approach to codes — or have yet to impose any whatsoever.
There are no reports of significant damage to infrastructure in Costa Rica while power outages and multiple collapsed buildings are reported in a western province of Iran.
Contributing to Harvey's high losses is the fact that Texas has one of the most relaxed approaches to building codes, inspections and other protections.
A new report from Swiss Re postulates what the insured losses would be if a storm like 1992s Hurricane Andrew were to barrel through South Florida in 2017.
President Obama is asking the private sector to tighten building standards to reduce losses from natural disasters after studies linked an increase in extreme weather to climate change.
Despite the fact that the Southeast has experienced more billion-dollar disasters in the past 30 years than the rest of the country combined, the coastal states have some of the weakest building codes in the U.S.