Meteorologist Marc Bove from German reinsurer Munich Re documented increasing landfall risks for major hurricanes in the region.
Hurricane Katrina initially struck Florida before intensifying over the warm Gulf of Mexico waters in August 2005.
Bove stated “The hurricane hazard is rising, and not only in the Gulf region.”
A repeat Katrina event today would prove even more costly beyond simple inflation adjustments.
Rising sea levels combined with subsiding land elevations will progressively undermine New Orleans’ flood protection upgrades. – Reuters
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