Earthquakes Are the Costliest Natural Disaster
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.
- Dialogue with the Fed: The Economic Impact of Natural Disasters
- On the Economy: Economic Effects: Hurricane Harvey vs. Hurricanes Katrina and Rita
- Regional Economist: In the Rubble of Disasters, Politicians Find Economic Incentives