Weekly Updates & Resources from CHUG
UNEXPECTED CLIMATE DISASTERS CAUSE MORE IMPACT THAN CAN REASONABLY BE MEASURED
Through July of this year, 9 weather- and climate-related disaster events occurred with losses surpassing $1 billion each in the U.S. alone.
Measuring the data, however, is a much bigger task. Typically, these types of losses include:
physical damage to residential, commercial, and municipal buildings
material assets (content) within buildings
time element losses such as business interruption or loss of living quarters
damage to vehicles and boats
public assets including roads, bridges, levees
electrical infrastructure and offshore energy platforms
agricultural assets including crops, livestock, and commercial timber
wildfire suppression costs, among others.
“However, these disaster costs do not take into account losses to: natural capital or environmental degradation; mental or physical healthcare-related costs, the value of a statistical life (VSL); or supply chain, contingent business interruption costs.”
Even if your area is not known for extreme weather conditions, you never know when you could be impacted negatively by climate change.
Contact CHUG to get your organization prepared today.