$2.5 Billion in Insurance Losses Likely From 2014 Winter Storms

  Tuesday, November 25th, 2014 Source: Insurance Information Institute

With an arctic cold surge and heavy snow accumulations in large parts of the United States last week, potential hazards exist for homeowners and drivers alike, according to the Insurance Information Institute (I.I.I.). A repeat of this past winter’s deep freeze is possible. All that cold, ice and snow translates into frozen pipes, collapsed roofs, auto accidents and slip-and-fall injuries. In fact, insurance data give us another way to describe just how cold last winter was and how cold it’s likely to be this year. “Severe winter weather is the third-largest cause of insured catastrophe losses, after hurricanes and tornadoes,” said Dr. Robert Hartwig, president of the I.I.I. and an economist.

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