ILC ARTICLE

10% of US homes damaged by 2021 storms

23rd February 2022

A new report by CoreLogic has found that 14.5 million US homes were damaged by natural catastrophe events in 2021, with an estimated $56.92bn in property damage.

Using advanced risk modelling technology, the 2021 CoreLogic Climate Change Catastrophe Report considered the impact of 13 major events, including storms, wildfires and tornados, on more than 120 million homes.

Tom Larsen, CoreLogic’s principal, Industry Solutions, said, “By leveraging granular data for the increasing frequency and severity of catastrophes, we are able to see that more than 14.5 million homes were impacted to some degree by natural hazards in 2021. That’s about one in every 10 homes in the United States.

“Insurers and lenders can leverage the latest technologies and work cross-functionally to better understand this risk, protect homeowners and enable faster recovery times.”