2005 record economic loss from natural disasters

California has one of the longest beachfronts in the US...and as oceans become more probelmatic, coastal communities need to increase planning for storms, pollutants, tsunamis...and more. Most natural disaster studies are conducted on a global scale, as is this one. However, California must learn from these global lessons. Here's why...

October 12, 2006 (ENS) - The world suffered record economic losses from natural disasters in 2005, which killed more than 90,000 people and affected the lives of more than 150 million, the World Bank reported Wednesday. The new report from the international financial and development organization warns that the impacts from natural disasters will continue to increase unless governments develop comprehensive hazard approaches to better mitigate and reduce disaster risks.

The study "Natural Disaster Hotspots: Case Studies" was compiled by the World Bank and Columbia University and found that the 360 natural disasters in 2005 caused $159 billion in damages - a 71 percent increase over the total losses in 2004. Hurricane Katrina alone caused $125 billion of the economic losses in 2005, the report said.

"Natural hazards and their impacts will continue to evolve throughout the 21st Century due to changing socioeconomic conditions, coastal land use, and climatic risks," said Katherine Sierra, World Bank vice president for sustainable development. "These reports, which provide the most comprehensive, accurate data of multi-hazard hotspots to date, can help improve disaster risk assessment globally and locally."