Recent studies indicate that climate change could cause a storm with an increase in wind loss of about 50% and an increase in storm surge loss of about 70% compared to what occurred during Hurricane Sandy. (This image of the New Jersey shore after Hurricane Sandy was captured by U.S. Air Force Master Sgt. Mark C. Olsen.)
It has been ten years since Hurricane Sandy devastated the New Jersey/New York area. The storm was responsible for $65 billion of economic damage in the U.S., according to the official NOAA Report (2013). Decadal remembrances of such significant storms serve to remind the (re)insurance industry what storms were capable of in history and to prepare better for future renditions. That is especially true when climate change factors into the recipe. This anniversary article pays homage to Hurricane Sandy by helping us understand how much worse a storm like it could be in the future.
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