US blizzard to cause $1bn+ damages

The “Snowzilla” blizzard that hit the eastern US over the weekend (22-24 January) is expected to cause billion-dollar damages, Impact Forecasting said.

It was too early to provide insured loss estimates, the Aon Benfield modelling division noted, but it said the blizzard was comparable to a January 1996 storm that caused economic losses of $4.6bn and insured claims of $920mn in today’s dollars.

via Trading Risk (subscription required)

US blizzard to cause $1bn+ damages

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