Being Prepared for the Next Disaster Pays Off, New Study Shows

"An ounce of prevention is worth a pound of cure." Well, turns out that ratio was just a bit off...

Allstate, the U.S. Chamber of Commerce, and the U.S. Chamber of Commerce Foundation released a new study yesterday showing that every $1 spent on climate resilience and preparedness saves communities $13 in damages, cleanup costs, and economic impact.

With weather-related catastrophes increasing in frequency and severity, billion-dollar disasters are now the norm. In 2022 alone, the cost of natural disasters exceeded $360 billion across the globe, including more than 40 weather events causing over $1 billion in damage each.

Personally, I've witnessed how the climate has changed in my lifetime. I have also taken steps to ensure my household, and those of extended family members, are more resilient and robust in case a natural disaster--or severe weather--strike. With the cost of natural disasters growing, it's essential for government, businesses, and households to invest in resilience so that communities can prosper. ?

For more on the study and how preparation is the key to resilience, please read my latest article.