Insured losses from hurricanes rose in the past 15 years. When adjusted for inflation, nine of the 10 costliest hurricanes in U.S. history have struck since 2004. Construction along both the Gulf Coast and East Coast continues to develop, and property values have increased, resulting in higher loss exposure.
The chart below shows insured losses in dollars for the top 10 costliest hurricanes in the United States when they occurred and in 2021 dollars, adjusted for inflation. According to Aon, Katrina was the costliest hurricane on record, causing $65 billion in insured losses when it occurred in 2005, including losses from the NFIP. Losses from Katrina totaled $89.7 billion in 2021 dollars.