U.S. Disaster Price Tag Topped $300b in 2017, NOAA Says
David Wagman | January 08, 2018The U.S. experienced 16 weather and climate disasters each with losses exceeding $1 billion, totaling approximately $306 billion — a new U.S. record.
The National Oceanic and Atmospheric Administration (NOAA) says that the 1980–2017 annual average is 5.8 events; the annual average for the most recent 5 years (2013–2017) is 11.6 events.
At least 362 people died and many more were injured during the course of the disasters that included one freeze; one drought (that affected multiple areas); one wildfire (that affected multiple areas); two floods; three major hurricanes (Harvey, Irma and Maria); and eight severe storms.
The biggest newsmakers included the western U.S. wildfires that caused damages tallying $18 billion — triple the previous U.S. record. Losses from Hurricane Harvey exceeded $125 billion, which ranked second only to Hurricane Katrina, the costliest storm in the 38-year period of record. Hurricanes Maria and Irma had total damages of $90 billion and $50 billion, respectively. Hurricane Maria now ranks as the third costliest weather and climate disaster on record for the nation, with Irma coming in close behind as the fifth costliest.
Since 1980, NOAA says that the U.S. has sustained 219 weather and climate disasters that have exceeded $1.5 trillion in overall damages.