yes, as Adam said in the early part of the post...

The number and cost of disasters are increasing over time due to a combination of increased exposure (i.e., values at risk of possible loss), vulnerability (i.e., how much damage does the intensity (wind speed, flood depth) at a location cause) and that climate change is increasing the frequency of some types of extremes that lead to billion-dollar disasters (NCA 2018, Chapter 2).

Depending on what you want to do with the data, you would likely have to  make additional adjustments. If you wanted to be able to say exactly how much each factor contributed, then you'd definitely have to account for the greater development intensity today compared to earlier decades. But that kind of attribution is beyond the scope of the analysis. The annual billion-dollar disaster update is simply an inflation-adjusted  score-card that can be used to compare total costs from one year to another.