According to catastrophe risk analysis company, Risk Management Solutions (RMS), a new study shows that a repeat of the 1927 Great Mississippi Flood would cost between $130 and $160 billion in economic damages.
The study was published on the 80th anniversary of the flood and shows that almost two-thirds of the total losses would be a result of residential damage, with another third from commercial and industrial property damage. Louisiana would sustain nearly 40% of the total loss, but other states along the river would also experience damages.
According to RMS, research suggests that climate change and global warming increase the potential for exceptional flows on river basins such as the Mississippi, and has an impact on how flood risk should be managed.
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