Historical and projected costs of natural disasters

Abstract

Natural disasters cause billions of dollars of damage and thousands Of deaths globally each year. While the magnitude is clear, the exact costs (in damage and fatalities) are difficult to clearly identify. This document reports on the results of a survey of data on the costs associated with significant natural disasters. There is an impressive amount of work and effort going into natural disaster research, mitigation, and relief. However, despite this effort, there are surprisingly few consistent and reliable data available regarding the effects of natural disasters. Even lacking consistent and complete data, it is clear that the damage and fatalities from natural disasters are increasing, both in the United States, and globally. Projections using the available data suggest that, in the United States alone, the costs of natural disasters between 1995 and 2010 will be in the range of $90 billion (94$) and 5000 lives.