NOAA: Weather and climate disasters cost U.S. $91B in 2018

The United States was hit by $14 billion weather and climate disasters in 2018, costing the country roughly $91 billion, according to the U.S. National Oceanic and Atmospheric Administration (NOAA). NOAA said that 2018 was the 8th consecutive year that saw at least eight billion dollar disasters striking the U.S..

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In its latest report on the state of the U.S. climate in 2018, NOAA reports that the number of weather and climate related events that caused losses greater than $1 billion and their cumulative economic cost ranked the fourth highest since its records began in 1980.

As ever, when government estimates of the true cost to the economy from weather and climate related catastrophes are released, the gap between insured losses and the overall cost is stark.

At the top of the list, in terms of economic impacts, was hurricane Michael, which NOAA estimates as having caused $25 billion of damages.

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