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The insurance industry plays a vital role in helping individuals and businesses prepare for and recover from the potentially devastating effects of a disaster such as a catastrophic hurricane or storm or wildfire. Information on catastrophes, including earthquakes, terrorism, hurricanes, wildfires and tornadoes is provided in the “Supporting resiliency and disaster recovery" section of the Firm Foundation (see chapter navigation on the left). In addition, the section below provides state catastrophe rankings, followed by information on the following types of disasters:
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(1) Hailstones one inch in diameter or larger.
Source: U.S. Department of Commerce, Storm Prediction Center, National Weather Service.
($ millions)
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(1) Includes Puerto Rico and the U.S. Virgin Islands and losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Includes hurricanes that occurred through 2020. Subject to change as loss estimates are further developed. As of February, 2021. Ranked on insured losses in 2020 dollars.
(2) Adjusted for inflation by Aon using the U.S. Consumer Price Index.
Source: Aon.
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(1) The risk categories are cumulative and increase in value from Category 1 to Category 5. Category 1 represents the higher risk of damage from a weak hurricane; Category 5 includes Categories 1 to 4 and the low risk of damage from a Category 5 hurricane.
(2) Measured in units.
(3) Storm surge risk for Category 5 storms for homes on the northeastern Atlantic Coast is not shown due to the extremely low probability of a Category 5 storm affecting these areas.
(4) Represents the cost to completely rebuild including labor and materials by geographic location.
Source: CoreLogic®, a property data and analytics company.
While individual hurricanes and earthquakes tend to produce higher losses, tornadoes account for a major share of catastrophe losses because of their frequency.
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(1) Ranked by total number of tornadoes.
(2) States with the same number of tornadoes receive the same ranking.
(3) State had no tornadoes in 2019.
(4) The U.S. total will not match data used in other charts because it counts tornadoes that cross state lines.
Source: U.S. Department of Commerce, Storm Prediction Center, National Weather Service.
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(1) Includes Puerto Rico.
Source: National Interagency Fire Center.
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Source: National Interagency Fire Center.