This section assesses how changes in hurricane risk could translate into changes in ''direct losses'', i.e. in the value of the damages to property caused by the hurricane. It is important to note that this paper does not consider fatalities and injuries. This choice can be justified by the fact that, in most cases, fatalities and most injuries due to hurricanes can be avoided thanks to warning systems and evacuation schemes, as shown by the usually small number of fatalities in developed countries. Hurricane Katrina is an outlier in terms on human toll, but such a situation is exceptional and could have been avoided thanks to a more efficient warning and evacuation system. One can expect, therefore, that the human toll of hurricane will remain very low in the future and can, therefore, be disregarded in this analysis.
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