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RMS: Coastal Cities at Higher Flood Risk Than Before Katrina

Risk Management Solutions, a catastrophe risk management firm, reports that a decade after Hurricane Katrina caused $41 billion in property and casualty insurance losses, rising sea levels have increased expected economic and insurance losses from hurricane-driven storm surge in U.S. coastal cities...
August 26, 2015

Flood risk chartRisk Management Solutions (RMS), a catastrophe risk management firm, reports that a decade after Hurricane Katrina caused $41 billion in property and casualty insurance losses, rising sea levels have increased expected economic and insurance losses from hurricane-driven storm surge in U.S. coastal cities.

RMS's analysis of six U.S. coastal cities found that Tampa faces the highest risk at a 1-in-80 annual chance of experiencing a $15 billion storm surge loss, followed by Miami at a 1-in-125 chance, New York at a 1-in-200 chance and New Orleans at a 1-in-440 chance.

RMS models show those likelihoods are expected to increase greatly over time, by up to 350 percent in some cities by 2100.

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