Year-end 2022 U.S. Business Insurance State of the Market Report 7 The U.S. has sustained 341 weather and climate disasters since 1980 where 2022 in context from the National overall damages/costs reached or exceeded $1 billion (including CPI adjustment Oceanic and Atmospheric to 2022). The total cost of these 341 events exceeds $2.475 trillion. Administration (NOAA) In 2022, there were 18 weather/climate disaster events with losses exceeding $1 billion each that U.S. 2022 Billion-Dollar Weather and Climate Disasters a昀昀ected the U.S. These events included: 1 drought event 1 昀氀ooding event 11 severe storm events 3 tropical cyclone events 1 wild昀椀re event 1 winter storm event Overall, these events resulted in the deaths of 474 people and had signi昀椀cant economic e昀昀ects on the areas impacted. While the 1980–2022 annual Source: NOAA National Centers for Environmental Information (NCEI) U.S. Billion-Dollar Weather and Climate Disasters (2023). average is 7.9 events (CPI-adjusted), the most https://www.ncei.noaa.gov/access/billions/, DOI: 10.25921/stkw-7w73 recent 昀椀ve years (2018–2022) jumps to 17.8 events (CPI-adjusted) with an annual loss 昀椀gure of $120B.