Recent Climate Disasters Cost $500 Billion: The Financial Fallout

Douglas McIntyre, Editor-in-Chief at Climate Crisis 24/7, reports that three major climate events—the Los Angeles wildfires and Hurricanes Helene and Milton—have cost the United States $500 billion in the last year. These calculations, provided by AccuWeather, consider current and future damage, including disruptions to businesses and homes and increased insurance premiums. McIntyre warns that if these trends continue, many insurance companies may withdraw from high-risk areas, risking financial instability for insurers and leaving homeowners unprotected.