Insurers could see over $1.5 billion in losses stemming from “no fewer than four separate stretches of winter weather” in the U.S. in January, Aon Benfield says in its monthly wrap-up of global catastrophes.
Roughly $1.4 billion in insured losses stems from one particular stretch of winter weather during the second week of the month, when the central and eastern U.S. dealt with the coldest temperatures in two decades. The Great Lakes and Ohio Valley saw more than 20 inches of snow during that week while the Northeast and Mid-Atlantic contended with freezing rain. The event caused over 150,000 claims.
Other winter-weather events earlier and later in the month caused thousands more claims and more than $500 million in economic damages.
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