Market Insights

Don't let the polar vortex freeze you out of insurance coverage

January's deadly polar vortex devastated businesses in the Midwest and Northeast, costing the U.S. economy billions.

By Jared Zola | March 12, 2019 at 12:00 AM

The so-called “polar vortex” of frigid air that swept the United States in late January 2019 was blamed for more than 20 cold-related deaths and shattered low-temperature records across the country. One hospital in Chicago treated more than 50 people for frostbite during the polar vortex.

The bitter cold also wreaked economic havoc on businesses throughout the world, including a costly halt to the aviation and hospitality industries, and devastated businesses in the Midwest and Northeast U.S. regions through major losses resulting from freezing water and fuel pipes. Preliminary estimates indicate that the polar vortex will cost the U.S. economy billions of dollars.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
Educational webcasts, resources from industry leaders, and informative newsletters.
Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account? Sign In Now

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

Recommended Stories

How would a major earthquake impact New York City?

Elana Ashanti Jefferson | April 10, 2024

Manhattan island in particular features unique seismic hazards, says Megan Linkin with Swiss Re Corporate Solutions.

Navigating the complexities of representations and warranties insurance

Daniel Simnowitz | April 15, 2024

RWI helps facilitate smoother transactions by transferring transaction-related risks to insurance carriers.

Survey blames class action spike in-part on surge in 'employee activism'

Trudy Knockless | April 11, 2024

Labor and employment class actions accounted for 43.4% of legal departments' class action matters in 2023 – an increase of nearly 10 percentage points from a year earlier.

Resource Center

This guide empowers insurance carriers and risk managers to navigate complex regulations, safeguarding their brands from costly SMS and text messaging penalties.

Guide

Sponsored by gryphon.ai

The Ultimate Guide to SMS/Text Messaging Compliance

This guide empowers insurance carriers and risk managers to navigate complex regulations, safeguarding their brands from costly SMS and text messaging penalties.

Browse More Resources ›

Navigating the complexities of P&C core insurance digitization is no easy task. Explore the critical decisions between building or buying and how to achieve operational excellence in this white paper.

White Paper

Sponsored by Origami Risk

Build or Buy? Considering the Critical Decisions in P&C Core Insurance Cloud Digitization Projects

Navigating the complexities of P&C core insurance digitization is no easy task. Explore the critical decisions between building or buying and how to achieve operational excellence in this white paper.

Browse More Resources ›

As more customers “unbundle” their insurance products and spread their business among many carriers, agents must look for creative strategies to retain and grow business. Download this white paper to learn top strategies to ensure success in 2024.

White Paper

Sponsored by Melissa

Clean Your Data to Win the Customer Retention War

As more customers “unbundle” their insurance products and spread their business among many carriers, agents must look for creative strategies to retain and grow business. Download this white paper to learn top strategies to ensure success in 2024.

Browse More Resources ›

PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now

Copyright © 2024 ALM Global, LLC. All Rights Reserved.