Coastal insured building values close to $15 trillion: Analysis
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Nearly $15 trillion of the $80 trillion in insured building values in the United States is in counties along the Atlantic and Gulf coasts exposed to hurricanes and other coastal hazards, according to an analysis issued by Boston-based Karen Clark & Co. on Monday.
The report found that the states with the highest hurricane and coastal hazard exposures were New York at $4.94 trillion; Florida at $3.31 trillion and Texas with $1.45 trillion.
The analysis, which was prepared using the company's RiskInsight risk management platform, included contents and time element exposures. “Along with increasing values, there are more concentrated pockets of exposures particularly in areas vulnerable to natural catastrophes,” said the report, “Increasing Concentrations of Property Values in the U.S.”
