Filed under: Budgeting & Planning, House & Home
Hurricane Sandy - you won't be easily forgotten.As the effects of these costly disasters pile up in the northeastern United States and the eastern coast of Canada, the cost of keeping people safe is worth every penny. And while emergency preparedness is improving in every region of the world, and deaths are decreasing, The Economist points out that the economic cost is rising relentlessly.
A major reason is that "a growing share of the world's population and economic activity is being concentrated in disaster-prone places: on tropical coasts and river deltas, near forests and along earthquake fault lines."
But how much does it cost to rebuild? According to the Daily Telegraph, the cost of Hurricane Sandy may run as high as $20 billion, only half of which is insured. That's quite conservative when compared with our list of recent disasters:
SLIDESHOW: RISING COST OF NATURAL DISASTERS
Continue reading The Storm Surge: How Much Natural Disasters Have Cost Us
The Storm Surge: How Much Natural Disasters Have Cost Us originally appeared on Walletpop Canada on Tue, 30 Oct 2012 10:00:00 EST. Please see our terms for use of feeds.