winter claims News

Winter Losses Pile Up But No Rating Impact on P/C Insurers Expected: Fitch

Severe winter weather is causing large losses for property/casualty insurance companies in early 2014, however there should be no rating impact as a result, according to Fitch Ratings. The severe winter weather from Jan. 1 to Feb. 21 has generated …

South Carolina Tallies Damage from February Storm

The damage tally from the February winter storm that left South Carolina coated in ice and buried in snow is more than $100 million so far, and the state is expected to qualify as a federal disaster area. Initial estimates …

Winter Claims Cost Insurers $1.5 Billion Thus Far

Near-record snowfall and prolonged extreme cold throughout many parts of the country have caused insurers to pay more than $1.5 billion to more than 175,00 claimants thus far, according to the Insurance Information Institute (III). With more winter weather still …

Georgia’s Latest Winter Storm Brought $25M in Damage: Hudgens

The latest winter storm to pound Georgia with ice and snow caused an estimated $25 million in damage. State Insurance Commissioner Ralph Hudgens said that’s the dollar amount of claims filed with property/casualty insurers since the storm hit last week. …

Allstate: Catastrophe Losses in January Reached $277M

Allstate Corp. said estimated catastrophe losses for the month of January were $277 million. The cost is $180 million after tax, the personal lines insurer said. Catastrophe losses were from six events at an estimated cost of $271 million, pre-tax, …

Ice Storm Knocks Out Power for Hundreds of Thousands in Northeast

Utility crews were working feverishly to restore power to hundreds of thousands of homes and businesses in the eastern U.S. that were still in the dark and cold on Thursday after an ice storm knocked out electricity to more than …

Snowy, Cold January Was Deadly and Costly: Aon

The various winter storms that brought snow and bitter cold to the United States in January took more than 50 lives and are expected to result in direct economic losses of about $3.5 billion and insured losses of more than …

Insurance Adjusters Brace for Cold Weather Claims

Though summer weather is associated with devastating catastrophe losses, the winter holiday season can be equally busy for insurance adjusters. The third-largest cause of catastrophic losses behind hurricanes and tornadoes, winter storms resulted in almost $26 billion in insured losses …