Tag: winter storm damage

Moody’s expects Winter Storm Uri to result in billions in insured losses

H. Cutner
Winter Storm Uri - Snow, cars and homes

The massive freeze and snowfall were particularly hard on Texas, though it struck much of the South. The powerful cold weather nicknamed Winter Storm Uri, smashed across the middle and Southern United States last week, leaving Texas especially devastated. According to Moody’s Investor Services, the insured losses from the weather will be in the billions. Winter Storm Uri, brought “snow, ice and some of the coldest temperatures in decades, particularly in Texas and across the Southern U.S.,” said the Moody’s report. This was particularly true on Valentine’s Day and through…

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Insurance Information Institute reveals winter-related payouts from 2015

G. Turner
homeowners insurance information institute winter snow ice

American insurers paid policyholders $2.9 billion for damage related to winter weather. The Insurance Information Institute (I.I.I.) has released its data with regards to the payments made by insurers in the United States for claims relating to winter weather, and what they’ve said is that those payouts reached a total of about $2.9 billion, last year. That said, despite those winter-related payments, the I.I.I. says insurance companies are still financially strong. Despite the payments the insurers faced in the U.S., the Insurance Information Institute explained that those companies will still…

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Insurance companies are seeing rising claims following a rough winter

Julie Campbell
Winter Home Care insurance companies external battery charger

Insurers throughout the northeast are stating that they have a greater loss-report volume. From start to finish, this past winter was a treacherous and highly damaging one in the northeastern United States, and now that it has finally come to a close, insurance companies are starting to see another increase in claims from homeowners who are experiencing a new wave of discovered damages. As the snow and ice melt away, they are revealing the true extent of the destruction that they’ve left behind. So far, claims to insurance companies have…

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Insurance industry is seeing a hugely costly winter

H. Cutner
insurance industry winter snow ice

Some have said that this will be among the 5 most expensive winters in over 30 years. The Insurance Information Institute has now released its predictions about the costs associated with this last winter for the insurance industry, and has determined that the payments resulting from storms have now reached over $1.5 billion. As this week has shown in many parts of the country, the snowstorms aren’t done for the year. Now, the Verisk Analytics Property Claims Services firm has estimated that there were already about 175,000 claims paid to…

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