However, the Environmental Protection Agency has outlined the main cause of the recent increase in natural disasters ...

[15] • Economic impacts: The cost of natural disasters has skyrocketed, with U.S. billion-dollar disasters increasing from an average of 3.3 per year in the 1980s to over 17 annually from 2014-2023.

Penny Gusner is a senior insurance writer and analyst at Forbes Advisor. For more than 20 years, she has been helping consumers learn how insurance laws, data, trends, and coverages affect them.

Continued reconstruction in North Carolina following last year’s Hurricane Helene. As natural disasters become more severe and intense, recovery from such storms often tallies into the billions.