Verisk Estimates Insured Losses for Winter Storm Fern Could Reach USD 4 Billion
Verisk estimates that insured industry losses from Winter Storm Fern, which impacted the Midwest, Northeast, South, Tennessee Valley, and Mid-Atlantic from January 23-26, could reach USD 4 billion. Freeze impacts, including widespread power outages and burst pipes, are expected to be the primary drivers of these losses, with supplemental losses from wind and snow. If these estimates hold, Fern would be the third costliest U.S. winter storm on record, highlighting the severity of the event and the enhanced modeling capabilities of Verisk's updated U.S. Winter Storm Model.
https://www.marketscreener.com/news/verisk-estimates-insured-losses-for-winter-storm-fern-could-reach-usd-4-billion-ce7e5adbdc81f025