Insured Losses from Recent U.S. Storm Could Top $1 Billion

Insurers stand to pay between $790 million and $1.4 billion for insured losses to residential, commercial and industrial properties and to automobiles stemming from the winter storm that struck the U.S. on Feb. 1 and Feb. 2. Catastrophe modeling firm AIR Worldwide estimates that the winter storm, one of the largest since the 1950s, affected nearly 100 million people across 30 states. The storm cut a swath across Texas to Canada, dropping more than a foot and half of snow in some regions and bringing high winds, sub-zero wind chill temperatures, freezing rain and ice.