Blizzard Losses May Not Be Excessive
Tuesday, February 18th, 2003 Catastrophe PropertyThe blizzard that swept through Midwest and Northeastern states over the last couple of days has resulted in an expected spike in claims, but so far, the amount has not been that substantial, industry professionals said. "In some areas--primarily the Southern regions affected by the storm, including Virginia, Maryland and West Virginia--we are seeing what you could characterize as an ‘expected spike‘ in claims numbers, but nothing substantial in terms of increase in claims," said Bill Mellander, a spokesperson at the Allstate Corporation in Northbrook, Ill. Mr. Mellander added that Allstate‘s national catastrophe team has provided some additional customer assistance in these regions, and as the snow continues to fall farther north, the company is monitoring those situations as well. "We don‘t have damage estimates, but we are not seeing substantial numbers," he said.
