And continued growth along
The insured value of property along the Atlantic and Gulf coasts jumped from
That period was "a bust for hurricane-force winds but a boom in catastrophic exposure," Weisbart said Wednesday at the National Hurricane conference, meeting in
Weisbart said a 2014 study by the real estate data group,
Perhaps most ominous for
"The population growth means not only more homes but more businesses, and more public buildings -- schools, hospitals -- and infrastructure in 'harm's way," Weisbart said in his presentation.
But, Weisbart said, "too many people are in denial about the risk."
The few big storms that hit in that period interestingly came ashore in the highest population states --
The last major hurricane to strike anywhere in
And Sandy clobbered the Northeast in 2012, but because of the technicalities of storm categorization, it was not considered a hurricane because it was not a tropical system when it came ashore in the
Weisbart did say the stretch of mostly storm-free years helped insurers build their reserves "for the next big one." But he said insurers' "surplus" in relation to premiums was
Later, he said in an interview that, in the last decade, "the population has decided it's not afraid of being exposed to hurricanes and storm surge."
The result, he said, is that "there's more exposure in harm's way, as it were, and because when storms hit, we're likely to have much more severe, extensive damage."
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