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Snowstorm Losses Could Top $350 Million

AIR Worldwide estimates total insured losses stemming from the snowstorm to be between $150 and $350 million.

By Eric Gilkey | Updated on April 01, 2010

The major winter storm that swept through the U.S. East Coast between February 23 and 28 caused a slew of office and school closings, federal delays, and the grounding of hundreds of planes. Life for those affected in the region has resumed its normal pace, but the incurred losses are still being calculated.

AIR Worldwide estimates total insured losses stemming from the snowstorm to be between $150 and $350 million. The catastrophe risk modeling firm adds that the overall insured losses from two prior storms, which occurred between Feb. 4-7 and Feb. 9-11, respectively, fall between $400 million and $1 billion.

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