Helene and Milton are both likely to be $50 billion disasters, joining ranks of most costly storms

(16 Oct 2024)
RESTRICTION SUMMARY:

ASSOCIATED PRESS
ARCHIVE: Brandon, Florida – 11 October 2024
1. Man walking through high water caused by Hurricane Milton
2. Various of flooded street and homes

ASSOCIATED PRESS
Asheville, North Carolina – 15 October 2024
3. SOUNDBITE (English) Adam Smith, NOAA applied climatologist and economist: ++PARTIALLY COVERED++
"When we start to get $50 billion or higher in total direct losses included in insured and uninsured losses. I think that’s what… that’s an arbitrary threshold that really seems to differentiate truly historic events within the hundreds and hundreds of billion dollars of disasters that we have cataloged over the decades. So 50 billion and up. And I think that Helene and Milton will likely approach, if not exceed that threshold."

ASSOCIATED PRESS
ARCHIVE: Asheville, North Carolina – 27 September 2024
4. Various of flooded intersection
5. Water rushing by sign

ASSOCIATED PRESS
Asheville, North Carolina – 15 October 2024
6. SOUNDBITE (English) Adam Smith, NOAA applied climatologist and economist: ++PARTIALLY COVERED++
"I’ve told people the impacts from Helene are really like western North Carolina’s Katrina or Sandy. That’s how impactful it has been. It’s been devastating and it will take years to recover."

ASSOCIATED PRESS
ARCHIVE: Swannanoa, North Carolina – 1 October 2024
7. Various of search and rescue dog and handler searching for victims
8. Damaged home

ASSOCIATED PRESS
London – 15 October 2024
9. SOUNDBITE (English) John Dickson, president of Aon Edge flood insurance: ++PARTIALLY COVERED++
"The areas of the country that were most impacted by Helene, by most measures, far less than 5% of the citizens impacted carried flood insurance. And so what we’re saying time and again, people are making decisions based on outdated information."

ASSOCIATED PRESS
ARCHIVE: Pensacola, North Carolina – 3 October 2024
10. Tracking shot of a broken road, debris fell into the river

ASSOCIATED PRESS
London – 15 October 2024
11. SOUNDBITE (English) John Dickson, president of Aon Edge flood insurance: ++COVERED++
"Today’s storms, today’s events are simply vastly different from from yesterday’s events."

ASSOCIATED PRESS
ARCHIVE: Bradenton Beach, Florida – 10 October 2024
12. Various of house off stilts after Hurricane Milton
13. Wide of debris with damaged building in background
14. Damaged building

ASSOCIATED PRESS
Columbia, South Carolina – 15 October 2024
15. SOUNDBITE (English) Susan Cutter, director of the Hazards Vulnerability and Resilience Institute at the University of South Carolina: ++PARTIALLY COVERED++
"These types of tropical systems are rapidly intensifying in the Gulf because of the very, very warm gulf that is directly related to climate change. And we’re not really prepared for that rapid intensification."

ASSOCIATED PRESS
ARCHIVE: Bradenton Beach, Florida – 10 October 2024
16. Various of damage after Hurricane Milton
STORYLINE:
Monstrous hurricanes Helene and Milton caused so much complex havoc that damages are still being added up, but government and private experts say they will likely join the infamous ranks of Katrina, Sandy and Harvey as super costly $50-billion-plus killers.

Making that even more painful is that most of the damage — 95% or more in Helene’s case — was not insured, putting victims in a deeper financial hole.

In the last 45 years, and adjusted for inflation, the National Oceanic and Atmospheric Administration has counted 396 weather disasters that caused at least $1 billion in damage. Sixty-three of those were hurricanes or tropical storms.

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