Winter storms were the third most costly type of natural disaster in the United States in 2011, with $2 billion in insured losses in 2011, according to a report by Munich Re. They were topped by severe thunderstorms (including tornadoes) at $25.8 billion in insured losses and tropical cyclones (including hurricanes) at $5.5 billion in insured losses.
From 1992-2011, winter storms resulted in about $28 billion in insured catastrophe losses (in 2011 dollars), or more than $1 billion a year on average, according to ISO.
INFLATION-ADJUSTED U.S. CATASTROPHE LOSSES BY CAUSE OF LOSS, 1992-2011 (1)
(2011 $ billions)
- Estimated property losses adjusted for inflation through 2011 by ISO using the GDP implicit price deflator. Excludes catastrophes causing direct losses less than $25 million in 1997 dollars. Does not include flood damage covered by the federally administered National Flood Insurance Program.
- Excludes snow.
- Includes wildland fires.
- Includes losses from civil disorders, water damage, utility service disruptions, and any workers compensation catastrophes generating losses in excess of PCS’s threshold after adjusting for inflation.
Source: The Property Claim Services (PCS) unit of ISO, a Verisk Analytics company.
NATURAL DISASTER LOSSES IN THE UNITED STATES, FIRST HALF 2012
Source: © 2012 Munich Re, NatCatSERVICE. As of July 2012.
SIGNIFICANT U.S. NATURAL CATASTROPHES, 2011 (1)
Source: © 2012 Munich Re, NatCatSERVICE.
THE FIFTEEN COSTLIEST U.S. WINTERS BY INSURED LOSSES (1)
|Rank||Date||Event||Location||Overall economic losses||Insured losses when occurred (2)||Deaths|
|1||Mar. 11-14, 1993||Blizzard||24 states affected||$5,000||$1,980||270|
|2||Apr. 13-17, 2007||Winter storm,
|Northeast, Southeast, South, CT; D.C.;
DE; GA; LA; MA; MD; ME; MS; NC;
NH; NJ; NY; PA; RI; SC; TX; VA; VT; WV
|3||Dec. 10-13, 1992||Winter storm||Northeast, Midwest, VA; MD; DE; PA; NJ; NY; CT; RI; MA; NE||3,000||1,000||19|
|4||Jan. 31-Feb. 3, 2011||Winter storm, snowstorms, winter damage||TX; CT; MA; IL; NY; OK; OH; PA; RI; IN||1,300||975||36|
|5||Dec. 17-30, 1983||Winter storms||FL; GA; ID; IL; IN; IA; KS; KY; LA; MD; MA; MI; MN; MS; MO; MT; NE; NJ; NY; NC; ND; OH; OK; OR; PA; RI; SC; SD; TN; TX; UT; VA; WA; WV; WI; WY||1,000||880||500|
|6||Jan. 17-20, 1994||Winter damage, cold wave||PA; NJ; NY; OH; MA; IN; NC; VA; WV; KY; MD; NH; DE; ME; RI; VT; CT; IL; TN; SC||1,000||800||70|
|7||Feb. 10-12, 1994||Winter damage||South, Southeast, TX; OK; AR; LA; MS; AL; TN; GA; SC; NC; VA||3,000||800||9|
|8||Jan. 1-4, 1999||Winter storm||South, Midwest, Southeast, Northeast, TX; OK; AR; MO; LA; MS; AL; GA; FL; SC; NC; TN; IL; IN; OH; PA; WV; VA; MD; DE; NJ; NY; CT; RI; MA; ME||1,000||775||25|
|9||Jan. 4-9, 2008||Winter storm||South, Southwest, Midwest, North, Northeast, Northwest, AR; CA; CO; IL; IN; KS; MI; MO; NY; OH; OK; OR; WA; WI; NV||1,000||745||12|
|10||Jan. 31-Feb. 6, 1996||Winter damage||31 states affected||1,500||735||16|
|11||Jan. 6-9, 1996||Snowstorm||Midwest, Northeast||1,200||600||85|
|12||Feb. 9-14, 2010||Winter storm, blizzards, winter damage||VA; KY; SC; MS; MD; DC; DE; PA; NJ; NY; RI; MA; OH; IL; IA; TX; OK; NC; WV||800||600||NA|
|13||Oct. 28-31, 2011||Winter storm, winter damage||CT; NJ; MA; NY; PA; NH||Loss estimation in progress||Loss estimation in progress||28|
|14||Jan. 13-16, 1999||Winter damage, ice storm||Midwest, North, Northeast, Southeast, IL; IN; MI; OH; PA; WV; VA; MD; NJ; NY; CT; MA; VT; NH; ME||750||575||NA|
|15||Jan. 26-28, 2009||Winter damage, ice storm||Southeast, South Central, East, Midwest, AR; IN; KY; MO; OH; OK; WV||1,100||565||58|
- Costliest U.S. blizzards and winter storms/damages occurring from 1980 to 2011, based on insured losses when occurred.
- Based on property losses including, if applicable, agricultural, offshore, marine, aviation and National Flood Insurance Program losses in the United States and may differ from data shown elsewhere
NA=Data not available.
Source: © 2011 Munich Re, Geo Risks Research, NatCatSERVICE.
U.S. WINTER STORM LOSS TRENDS
(Annual totals 1980 – 2011)
Source: © 2012 Munich Re, NatCatSERVICE.
Article Source: http://www.iii.org