Research on climate change is ongoing, but risk management evaluation and strategies need to begin now to avoid the consequences of flooding and escalating property loss, according to a recently published study.
Looking out to the year 2030, the study, conducted jointly by environmental research firm Atmospheric & Environmental Research and its sister company AIR Worldwide, a risk modeling firm, puts the expected average annual losses for the entire U.S. Gulf and East Coast regions in 20 years at $12.3 billion.
According to the researchers, this projected annual level, representing an increase of 18.6 percent from current levels, could exist in 20 years if sea level change and tropical storm activity stay consistent with current warm sea surface temperature trends.
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