The blog author, Adam Smith, had this response: 

Yes and no. These billion-dollar events account for physical damage to residential, commercial and government buildings and their contents. It also accounts for time element losses like business interruption and loss of living quarters, damage to vehicles, boats, offshore energy platforms. Also, damage to public infrastructure like roads, bridges, levees, dams, etc. and agricultural assets like crops, livestock, and commercial timber. However, we do not account for damages or losses to natural capital, mental or physical health care related costs or the statistical value associated with loss of life. So these losses should be considered a conservative estimate to what is truly lost but cannot be completely measured.