The Rising Cost of Disasters: Exploring insurance and economic fallout from a category 5 hurricane in Miami
Since 1980, the U.S. has faced 403 meteorological disasters, costing $2.9 trillion—with 18 of the top 20 occurring in just the last 20 years. As the national stock of homes and buildings grows, more assets are exposed to catastrophic storms, fires, and floods. Meanwhile, rising losses have driven insurers out of high-risk markets like California and Florida, leaving coverage gaps across the country.
This webinar will examine the macroeconomic consequences of a Category 5 hurricane striking Miami-Dade. Such an event would devastate the local economy, with lasting effects worse than a typical recession on jobs, housing values, and out-migration. Join us to understand what’s at stake for insurance markets, economic recovery, and disaster response.
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SpeakersAdam Kamins Sr. Director – Economic Research Moody's Analytics
Chris Lafakis Director - Economic Research Moody's
Jacob van Nieuwkerk Senior Risk Consulting Associate Moody's
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Adam Kamins is a director at Moody’s Analytics. He manages the firm’s U.S. subnational forecasting process and covers a wide variety of topics related to regional economics while frequently writing and presenting about both the New York and broader Northeast economies. Adam is also responsible for state and metro area scenarios, analyzing and forecasting commercial real estate prices and activity, and quantifying the impact of external events such as natural disasters. Prior to joining Moody’s Analytics, Adam was a research manager at the Initiative for a Competitive Inner City, where he analyzed urban economies. He holds an MBA from the University of Chicago Booth School of Business and a bachelor's degree in quantitative economics from Tufts University.
Chris Lafakis is a director at Moody's. His expertise is in model validation, macroeconomics and energy economics. Based in West Chester PA, he also covers the California economy and contributes to Economy.com. Chris has been quoted by media outlets, including CNBC and the Wall Street Journal, and often speaks at economic conferences and events. He received his bachelor's degree in economics from the Georgia Institute of Technology and his master's degree in economics from the University of Alabama.
Jacob van Nieuwkerk is a senior associate on the Moody’s Insurance Advisory Services team, spe¬cializing in advanced applications of Moody’s catastrophe risk analytics to non-insurance use cases. He works with both public and private entities to assess and manage their exposure to physical risks across the globe. This has included helping organisations in the banking sector to understand their exposure to catastrophe risk and working with utility companies to understand the impacts of wildfire risk to their operations.