Storm Surge Could Cost U.S. Hundreds of Billions
A new analysis highlights the enormous exposure the U.S. has to storm surge-related impacts, which is one of the most significant hazards posed by a land-falling hurricane. The report from CoreLogic, a private company that provides financial and property information for risk management, shows that for the country as a whole, more than 4 million residential structures are at risk from storm surge flooding in a worst-case scenario storm, with a total estimated price tag of $710 billion. The report ranks New York City and Long Island as the most at-risk metropolitan area, where a Category 4 storm could inflict damage to residential homes of up to $168 billion.
