$100 BILLION HURRICANE:

A major hurricane making landfall in the New York City metropolitan area would result in approximately $50 billion of insured losses with total economic losses exceeding $100 billion, according to an expert. That scenario was discussed by AIR Worldwide President and CEO Karen Clark. The scenario is based on a category three storm, similar to the 1938 Great New England Hurricane, making landfall just to the east of New York City. Clark said that a storm with similar characteristics would result in far more property damage today, since the total value of exposed properties in coastal areas of New York State alone has increased to over $1.9 trillion. Approximately one-quarter of the $100 billion in total economic losses would be attributable to storm surge damage to property. The contour of New York’s coastline and relatively shallow depth of its coastal waters make it extremely vulnerable to storm surge. The high risk of coastal flooding would require more than three million people to be evacuated. However, many hours before landfall, major bridges would experience hurricane force winds and ferry service across Long Island Sound would likely be stopped. Disaster planners have estimated that it could take up to 18 hours to evacuate the first million people from the area.

Topics Catastrophe Natural Disasters New York Hurricane