Beyond the Buildings What Can 2023 Teach Us About Future Natural Catastrophes?
It already seems like 2023 is long ago, but the consequences of natural disasters and the lessons we’ve learned from them are far from the past.
Record-breaking hailstorms; devastating wildfires in Lahaina, Hawaii; and other catastrophic events made global headlines, and for good reason. Historical patterns are changing – just look at the increasing rapid intensification of storms and sea-surface temperatures. However, changing climate patterns do not mean that there is no way to ensure resilience.
Research, property data, stringent building codes, and a commitment to preparedness are all lessons that insurers and homeowners can glean from 2023 to get ready to mitigate property risk for the 2024 season.
In this episode, host Maiclaire Bolton Smith and CoreLogic Director of Catastrophe Response Jon Schneyer look into what happened in the world of natural catastrophes in 2023. They also examine what we can learn from these events to give listeners a deeper understanding of the complex interplay between weather phenomena, human settlement patterns, and disaster response strategies.
In This Episode
1:34 – What is the biggest natural catastrophe story from 2023, and why was it record-setting?
4:04 – Looking into how population growth centers are increasing hail damage costs.
6:20 – What dominated international headlines for natural catastrophes – it wasn’t hurricanes.
8:52 – Erika Stanley goes over the numbers in the housing market in the Sip.
10:12 – How did El Niño and sea surface temperatures interact to influence hurricane season 2023?
13:35 – Wildfires in California were tempered, but will this continue in 2024?
16:17 – Why were the wildfires in Maui so devastating?
18:45 – What can we learn from these devastating natural catastrophes? (Hint: Building codes are important.)
21:42 – Erika Stanley discusses current natural catastrophe events.
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Up Next: Are Insurers Prepared for an El Niño-Fueled Hurricane Season?
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