The insurance industry today is reacting to a nor'easter Saturday that dumped more than 2 feet of snow in some spots in New England, prompting emergency declarations in New York, New Jersey, Connecticut and Massachusetts.
Though most of the industry says it is too early to provide initial claims numbers (However, USAA says it has gotten more than 1,300 claims and State Farm says it has received 716 homeowners claims, but no auto claims yet), it expects numerous claims from downed trees on homes and vehicles, auto accidents and power losses.
At least eight people have been killed in affected states, according to reports, and about 4 million homes were without power in five states. Countless businesses—from small convenience stores and gas stations to larger retailers and banks still had no power on Monday as crews worked to clear fallen trees from lines.
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