From Scientific American: Tougher Building Codes Would Avert Major Losses, FEMA Study Shows. In California and Florida alone, such codes have prevented $1 billion a year in structural damage.
This is hardly surprising news, but the big cost savings are notable.
Recovery Diva 
From a reader who prefers to be anonymous:
Yes cost beneficial, but …combined with the per capita value getting declarations harder for California.
Current Director, not a champion of pursuing disaster assistance – won’t fight with FEMA – he thinks it is not his job to fight for California….. He does not expect Individual Assistance will ever be included in future CA declarations. So building codes result in no IA.
Approximately 60% of California is owned or controlled by the federal government. Building codes do not stop fires from crossing beyond federal property lines.
He has “discretion” to approve state disaster assistance (CDAA) which he rarely does except for most federal declarations. No state match for COVID declaration. Authorized to grant “State only,” CDAA for the latest LA County civil unrest but has not.
Less damage perversely translates to fewer declarations. We had to hit $50 million+ of FEMA eligible damages 3 times in about 60 days in 2017 and twice in a couple of weeks in 2019.