CoreLogic® Issues 2012 Natural Hazard Risk Summary and Analysis Highlighting
Risk in Year's Biggest Disasters Across U.S.
--Hurricane Sandy tops list; Wildfire season was the third most destructive on
IRVINE, Calif., Jan. 3, 2013
IRVINE, Calif., Jan. 3, 2013 /PRNewswire/ --CoreLogic^® (NYSE: CLGX), a
leading provider of information, analytics and business services, today
released its annual Natural Hazard Risk Summary and Analysis detailing the
most significant natural disasters that struck the United States in 2012. The
report provides an analysis of the impact of hurricane, flood, wildfire and
tornado events over the course of the year, as well as a summary of potential
risk from natural hazards in 2013.
Compiled by CoreLogic spatial science experts, the report summarizes the
structural, geographic and financial impact of natural disasters that caused
billions of dollars in property damage across the U.S. over the course of the
"Hurricane Sandy was, without a doubt, the single most destructive natural
hazard event of 2012, due to the combination of environmental elements that
created what the National Oceanic and Atmospheric Association (NOAA) called a
'Frankenstorm,'" said Dr. Thomas Jeffery, senior hazard scientist for
CoreLogic. "The unusually broad span of the storm's reach, its intersecting
path with a nor'easter and its landfall at high tide led to disastrous levels
of storm surge, pushing flood waters far overland and causing widespread
destruction along the coast that could total as high as $50 billion."
Among key findings, the CoreLogic 2012 Natural Hazard Risk Summary and
oThe single most destructive natural disaster in 2012 was Hurricane Sandy.
In late October, the Category 1 storm generated record levels of storm
surge along the northern New Jersey coast and in the New York City area,
impacting more than 5 million residents across the region.
oThe first hurricane to make landfall in the U.S. in 2012 was Category 1
Hurricane Isaac in late August, which caused an estimated $2 billion in
insured losses around the New Orleans metro area.
oFlood losses are expected to total approximately $10 billion in 2012,
which would result in the third consecutive year of increasing flood
damage in the U.S.
oPrior to Hurricane Sandy, flood events in 2012 were relatively
insignificant, with most of them occurring below the Federal Emergency
Management Agency 100-year flood levels. In fact, freshwater flood
activity through October indicated a decline in flood losses from 2011, on
par with CoreLogic historical trend analysis. The broad scope and extreme
conditions of Sandy, however, led to widespread flooding along the
Atlantic Coast and a significant increase in estimated flood losses for
oEarlier in the year, Tropical Storm Debby tracked slowly across the
Florida peninsula in June, dropping at least 25 inches of rainfall along
oAfter months of sustained, widespread drought, Hurricane Isaac brought
heavy rainfall and flooding to Louisiana in late August before continuing
northward into the Midwest.
oThe 2012 wildfire season was the third most destructive on record in the
U.S. in terms of total acres burned as of early December.
oThe 15-year trend of fewer, but larger fires continued into 2012 with
fewer than 51,000 individual wildfires across the country—the lowest
number recorded since 1989.
oSeveral of the individual fires that occurred in 2012 set records,
including Colorado's Waldo Canyon Fire, which damaged or destroyed 346
homes, and New Mexico's Whitewater-Baldy Fire, which burned more than
oThe rebound in wildfires that occurred in California was not unexpected
given that by the end of August approximately 63 percent of the U.S. was
experiencing drought conditions as classified by NOAA and demonstrates the
cyclical nature of wildfire activity.
oNOAA continues to predict a pattern of drought conditions through the
start of 2013, suggesting the potential for another increase in wildfire
risk across much of the country.
oTornado activity in 2012 was not strictly limited to the region commonly
referred to as "Tornado Alley." States located outside the central and
southern Great Plains experienced a significant number of tornadoes this
oJanuary 2012 was one of the most active Januaries since recording began in
1950, with a total of 79 tornadoes reported across the country.
oIn late February, tornadoes struck Illinois, Indiana, Kentucky and Ohio.
Harrisburg, Ill., experienced the most concentrated destruction, with more
than 225 homes and businesses damaged or destroyed and an estimated $475
million in total damage.
"Because the strength, severity and geographic impact of natural disaster
events will change from year to year, an understanding of patterns in hazard
activity, geographic vulnerabilities and the properties exposed to each
different type of disaster is crucial to managing risk," said Jeffery.
CoreLogic generated findings for the Natural Hazard Risk Summary and Analysis
using the company's comprehensive parcel database and natural hazard risk
analytics, as well as data from reputable sources, such as the National
Climatic Data Center, NASA, EQECAT, Inc., and the National Weather Service.
For a copy of the 2012 CoreLogic Natural Hazard Risk Summary and Analysis,
which includes maps, charts and images, visit
CoreLogic (NYSE: CLGX) is a leading property information, analytics and
services provider in the United States and Australia. The company's combined
data from public, contributory, and proprietary sources includes over 3.3
billion records spanning more than 40 years, providing detailed coverage of
property, mortgages and other encumbrances, consumer credit, tenancy,
location, hazard risk and related performance information. The markets
CoreLogic serves include real estate and mortgage finance, insurance, capital
markets, transportation and government. CoreLogic delivers value to clients
through unique data, analytics, workflow technology, advisory and managed
services. Clients rely on CoreLogic to help identify and manage growth
opportunities, improve performance and mitigate risk. Headquartered in Irvine,
Calif., CoreLogic operates in seven countries. For more information, please
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