Hurricanes: State of the Risk



A distinguishing feature of the 2023 Atlantic hurricane season is a tug-of-war between a shift from cool- to warm-water conditions in the central Pacific Ocean and exceedingly warm tropical Atlantic waters. These warming conditions are part of a global pattern that is now outpacing anything seen in four decades of satellite observations.

  • Insured losses from hurricanes have risen over the past 15 years.
  • When adjusted for inflation, nine of the 10 costliest hurricanes in U.S. history have struck since 2005.
  • Continued coastal construction and rising property values – combined with sharply higher replacement costs since the pandemic and Russia’s invasion of Ukraine – have contributed to higher loss exposure.

As of July 17, 2023

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