2018 Had Many Destructive and Costly Weather Events

1/2/2019 (Permalink)

2018 has been another year of destructive and costly weather events. Here are some of the most costly for 2018:

Hurricane Florence:

Moody’s Analytics estimated on Sept. 21 that Hurricane Florence economic cost will fall between $38 billion and $50 billion. This same time last year, the country was reeling after Hurricane Harvey, Hurricane Irma and Hurricane Maria together cost the U.S. $270.3 billion.

source: Wall Street Journal

California Wildfires:

California’s fire agency has now exhausted its annual budget for 2018 of $442.8 million and now needs an additional $234 million to continue combatting the California fires, according to the Associated Press.

Carr Fire had cost more than $25 million.

Ferguson Fire had suppression costs soar above $64 million.

Mendocino Complex and Carr, victims have filed more than 10,000 claims so far. The total amount of those claims so far exceeds $845 million.

In 2017, the state received more than 45,000 claims totaling more than $11.8 billion. To fight all the 2017 California fires, which were less costly than the 2018 California wildfires, the state fire agency ended up spending well above the initially approved budget of $427 million, with total spending for 2017 reaching $773 million.

source: Fortune Magazine