Estimates on Winter Storm Fern insured losses could top $4B

"Based on our early analysis, we estimate that insured losses from Winter Storm Fern could reach up to USD $4 billion, with freeze-related damage emerging as the biggest driver of claims, Ned Kleiner, senior scientist for winter storm modeling at Verisk Catastrophe and Risk Solutions, said in an interview with HousingWire. What that means in practical terms is that prolonged cold and widespread icing especially across states like Texas,"

"Louisiana, Mississippi, Tennessee, and Kentucky increases the likelihood for burst pipes, power outages and interior water damage, which significantly increase repair costs. Winter Storm Fern affected large portions of the Midwest, Northeast, South, Tennessee Valley and Mid-Atlantic regions from Jan. 23-26, bringing a mix of freezing rain, heavy snow and severe thunderstorms. Freezing rain led to widespread power outages across Georgia, the Carolinas and Virginia."

Verisk Catastrophe and Risk Solutions estimates insured losses from Winter Storm Fern could reach up to USD $4 billion, with freeze-related damage the primary driver. Prolonged cold and widespread icing, especially across Texas, Louisiana, Mississippi, Tennessee and Kentucky, increased the risk of burst pipes, power outages and interior water damage that substantially raise repair costs. The storm impacted large portions of the Midwest, Northeast, South, Tennessee Valley and Mid-Atlantic from Jan. 23-26, producing freezing rain, heavy snow, severe thunderstorms and isolated tornadoes. Heavy snowfall exceeded one foot in several states and cold temperatures slowed repair efforts in some regions.

Read at www.housingwire.com