Climate risk research tells us how the wind blows.
By Steven M. Rothstein and Christopher S. Stark, Rhode Island Current
There is no doubt that more frequent and significantly stronger thunderstorms, combined with hurricanes, tornados, and wildfires are increasing the pressure on affordable insurance products to protect your assets. And on all of us. Because we need to work together to create a culture of resiliency in Rhode Island.
Global insured losses from natural catastrophes alone reached over $100 billion for the sixth consecutive year in 2025. In 2015, these numbers were between $27 billion and $37 billion across the globe. California wildfires alone in 2025 exceeded 2015 losses.
In the coming decades, millions more homes and businesses along the East Coast will be threatened by wind damage. According to a 2023 study by the First Street Foundation, the average cost of damage in Rhode Island caused by extreme weather is projected to rise by more than 50% from $10 million to $15.6 million in 2053.
Rhode Island’s 400 miles of coastline and several rivers have risen above flood stage in the past. That means an increased risk of waterborne diseases, mold growth, bacterial contamination, psychological trauma, and long-term effects on local economies in the years ahead, state officials say.
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