The major winter storm that swept through the U.S. East Coast between February 23 and 28 caused a slew of office and school closings, federal delays, and the grounding of hundreds of planes. Life for those affected in the region has resumed its normal pace, but the incurred losses are still being calculated.
AIR Worldwide estimates total insured losses stemming from the snowstorm to be between $150 and $350 million. The catastrophe risk modeling firm adds that the overall insured losses from two prior storms, which occurred between Feb. 4-7 and Feb. 9-11, respectively, fall between $400 million and $1 billion.
"The third winter storm to slam the Northeast coast [in February] reached its height on Friday, Feb. 26, impacting nine states in the mid-Atlantic and New England through Saturday," said Dr. Peter Dailey, director of atmospheric science at AIR Worldwide, in a press release.
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