Old man winter struck insurers with a vengeance last week. According to estimates from catastrophe modeling firm AIR Worldwide , insured losses as a result of the massive snowstorm that left a wide swath of frozen destruction across much of the nation, especially in the Midwest and South, are estimated at between $790 million and $1.4 billion. Those figures reflect losses based on residential, commercial and industrial properties and their contents, and to automobiles.
The winter storm, which was one of the largest since the 1950s and affected nearly 100 million people across 30 states, dropped more than a foot and half of snow in some regions and delivered high winds, sub-zero wind chills, freezing rain and ice, AIR says.
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