By Isabelle de St. Antoine
The changing nature of natural risk and how to help protect your Fine Art Collection from natural disasters
In recent years, heat records are being broken across the globe, wildfires continue to increase in frequency and severity, and floods are now seen across the United States, all evidencing that the nature of natural risk appears to be changing. Further predictions don’t show a reduction in these risks, researchers are predicting an “extremely active” 2024 hurricane season.1
With this in mind, how should you prepare to protect your fine art collection in face of this reality?
This article provides an update on climate challenges and presents the importance of enforcing risk management practices to help protect your art collection from natural disasters.
Flood: Flood risks across the US are increasing much faster than expected. Hurricanes are a big risk for flooding. With that said, the 2024 hurricane season is predicted to have a “well above-average” likelihood for major hurricanes to hit the continental United States coastline and in the Caribbean
2 leading to major flood risks.
Over the next thirty years, the costs related to flood damages are expected to rise by 26%.
3 Despite this, construction in high-risk areas is on the rise, further pushing the predicted flood related losses even higher. The flood map
4 below estimates where the flood risk is due to rise the fastest within the US between 2020 and 2050.
Heat Records:2023 was the earth’s hottest year, with heat waves increasing in intensity and duration across the globe.
5 2024 will most probably be another year of above average surface temperatures. Studies show that climate change is making heat waves more frequent and intense, especially in major cities.
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The below heat wave maps
7 demonstrate that in the 1960s, the US experienced, on average, two heat waves per year, compared to more than six times per year in the 2020s. Additionally, the average heat wave season across many major US cities is now 49 days longer in duration than in the 1960s.
Increasing frequency and intensity of heatwaves adds greater importance for proper HVAC maintenance and implementation where fine art is stored or housed in order to protect it for years to come.
Wildfire: The number of Americans at risk of wildfire exposure has doubled in the last two decades.
8 Elevated fire risks are predicted in 2024 for the Great Lakes region, Hawaii and parts of the Midwest and Southwest.
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Warming temperatures and increasing dry air, are accelerating the spread of wildfires, and making it more challenging to prevent. The Nonprofit Climate Central, examined historical trends in fire weather across the U.S between 1973 to 2022. Their findings show that wildfire seasons are intensifying and lengthening. Now, many parts of the Eastern US are also experiencing impactful increases in wildfire risks.
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The below is FEMA’s 2023 Wildfire Annual Risk Index Score and Rating looking at a community’s relative risk of wildfire compared to the rest of the United States, highlighting the spread of wildfire risks.
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