Monday, March 11, 2013
At least four separate winter storms affected the United States during February causing widespread damage, but insured losses resulting from these events were lower than expected, according to Aon Benfield.
In the latest edition of its monthly Global Catastrophe Recap report, Aon Benfield observes that flooding and active winter weather continued to produce the largest global catastrophe loss events during February 2013.
The U.S. was particularly impacted by a series of powerful winter storms. Steve Jakubowski, president of Impact Forecasting, notes:
While the damage was widespread, economic losses across the affected U.S. states were within the expected range for events of this magnitude, and, in some cases, insured losses were actually lower than might have been expected.â€
The most deadly of the winter storms was a powerful Nor-easter which killed at least 15 people and affected more than 60 million citizens. A state of emergency was declared in six states.
The storm brought heavy snowfall of 40 inches in Connecticut, and coastal flooding in Massachusetts â€“ including the city of Boston. Total economic losses were estimated at roughly $100 million, with only a modest number of insurance claims filed.
The report also makes mention of the meteor explosion above Russiaâ€™s Urals region that injured 1,491 people. Aon Benfield says:
The blast, which had an energy equivalent roughly 30 times stronger than an atomic bomb, damaged 100,000 homes, 3,000 buildings, 700 schools and 200 hospitals in more than six Russian cities and parts of two Kazakhstan provinces.
Economic losses were listed at RUB1 billion ($33 million), it adds.
Check out I.I.I. facts+stats on global catastrophes.