HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » U.S. Freeze Costs $3.5 Bi...

Thu Feb 6, 2014, 03:19 PM

U.S. Freeze Costs $3.5 Billion Including Travel Delays

Source: Bloomberg

Winter storms that brought heavy snowfall, freezing rain and Arctic air to the U.S. last month will probably cost more than $3.5 billion in economic losses, according to insurance broker Aon Plc.

Insurers estimated losses of more than $1.4 billion from the second week of January, the most costly of four extreme-weather periods during the month, the London-based broker said today in a report. Insured losses from the three other stretches totaled about $200 million.

At least 21 people were killed from Jan. 5 through 8, as more than 20 inches (51 centimeters) of snow fell in the Great Lakes region and Ohio Valley and freezing rain pelted the Northeast and Mid-Atlantic. Widespread property damage and severe travel delays added to the costs.

“The combination of physical damages and business-interruption costs have quickly aggregated into direct economic losses well into the billions of dollars,” Steve Bowen, a senior scientist at Aon’s forecasting unit, said in a statement. He said this is the costliest year for “winter weather peril” since 2011.

Read more: http://www.bloomberg.com/news/2014-02-06/u-s-freeze-costs-3-5-billion-including-travel-delays.html

2 replies, 592 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 2 replies Author Time Post
Reply U.S. Freeze Costs $3.5 Billion Including Travel Delays (Original post)
Purveyor Feb 2014 OP
Dopers_Greed Feb 2014 #1
JCMach1 Feb 2014 #2

Response to Purveyor (Original post)

Thu Feb 6, 2014, 05:48 PM

1. Remember...Obama is causing this weather

To distract from government tyranny.

Hurting job creators is just a bonus.

Reply to this post

Back to top Alert abuse Link here Permalink

Response to Purveyor (Original post)

Fri Feb 7, 2014, 11:31 AM

2. My sales were down about 25%

even here in Florida...

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread