"Experts told me that the skyrocketing rates are caused by a combination of high inflation, especially in the prices of building supplies, and Texas’s recent series of natural disasters. According to the National Oceanic and Atmospheric Administration, between 1980 and 2023 Texas experienced an average of four natural disasters per year with damages in excess of $1 billion—droughts, floods, storms, tornadoes, wildfires, and winter storms. In recent years, such disasters have become much more frequent. Between 2019 and 2023 Texas suffered an average of eleven billion-dollar events each year, with sixteen in 2023 alone. " #climate#disasters#texas#insurance#TXwx
joycebell
ai6yr