NU Online News Service, Nov. 18, 4:05 p.m. EST
Research on climate change is ongoing, but risk management evaluation and strategies need to begin now to avoid the consequences of escalating property loss, according to a study by AER and AIR Worldwide.
The study, "An estimate of increases in storm surge risk to property from sea level rise in the first half of the twenty-first century," was conducted jointly by environmental research firm Atmospheric & Environmental Research (AER) and its sister company AIR Worldwide, a risk modeling firm.
It found that the expected average annual losses for the entire U.S. Gulf and East Coast regions in 20 years is $12.3 billion--an increase of 18.6 percent from current levels--if sea level change and tropical storm activity stay consistent with current warm sea surface temperature trends.
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