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 February 4 and February 7 and February 9 and February 11, respectively, fall between $400 million and $1 billion.
"The third winter storm to slam the Northeast coast last month reached its height on Friday, February 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.
The powerful, low-pressure system originated off the mid-Atlantic coast, intensifying as it came ashore. The storm moved slowly into New York and gradually dissipated over New England before moving out to sea.
Combining heavy snowfall and flooding rain and winds, some of which reached hurricane-strength, the storm left Manhattan with almost 21 inches of snow within a 36-hour period. In addition to setting an all-time record for snow produced during the month of February, the storm set a new high for accumulation in a single day. Elsewhere, snowfall totaled more than two feet over parts of eastern New York and western Massachusetts. It was reported that West Halifax, Vermont, received 38.5 inches of snow.
"The repeated impact of winter storms in the Mid-Atlantic region in recent weeks has been influenced in part by the ongoing strong El Ni?o conditions," Dailey explained. "The presence of anomalously warm waters in the east Pacific during El Ni?o shifts the global atmospheric circulation in such a way as to displace the jet stream pattern over North America to the south. The storms that form in these conditions are more likely to impact states in the Southeastern and Mid-Atlantic areas."
When storms follow each other in such quick succession, as they have in recent weeks, there is little time for accumulated snow to melt. As a result, the potential for roof damage is increased. As with the two earlier storms, damage caused by snow accumulation is expected to be a major source of insured losses from this latest event.
"The late February winter storm was accompanied by higher wind speeds than the two earlier storms," Dailey added. "Thus, wind damage will also play a role in insured losses for this event. At the level of wind speeds observed, AIR would expect claims from damage to non-structural elements, such as roof coverings, cladding, awnings and signage. Damage to both structures and automobiles from fallen trees is also likely."
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