Think a $100 billion hurricane can’t happen; think again. It already has. The Hurricane of 1821 has been analyzed by the re-insurance company Swiss Re. A re-insurance company insures insurance companies. They took at closer look at available information from the 1821 storm and determined that if it were to hit today, it would cause $100 billion in losses. Full report here, which they have just called, The Big One.
Mind you folks, this is not some meteorological fantasy; mother nature has already dished this one up for real. The reasons it would cause $100 billion in losses now are a combination of:
- Much increased population since 1821
- Much more development along the coast since 1821
- Higher sea levels, approx 2 feet higher
Oh and when we were on the Swiss Re website, we noticed they have a whole tab devoted to Re Thinking. Guess what most of that is about? Just sayin!