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Earthquakes Are the Costliest Natural Disaster

Thursday, February 15, 2018

Different types of disasters—hurricanes, quakes, floods, storms and droughts—exact different costs. So, which ones have the greatest economic impact?

During a recent Dialogue with the Fed presentation, Business Economist and Research Officer Kevin Kliesen presented data from the 40 most costly insurance losses since 1970. He noted that while hurricanes occurred the most, earthquakes were the costliest in terms of average economic losses.

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