Losses from mid-Atlantic storms could top $2B
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Catastrophe modeler EQECAT has estimated that the two winter storms that raked the mid-Atlantic region of the US this month has caused more than $2 billion in insured losses.
Washington, D.C. saw more than 30 inches of accumulated snow between the two storms, the first of which started on February 5, the second happened the next week. EQECAT said its estimate is based on a preliminary assessment of the overall scale of these storms and their snow, ice and wind impacts relative to major prior events in the last two decades.
EQECAT expects that the majority of the losses will be focused in the corridor from northern Virginia to the New York metropolitan area. EQECAT said the most common sources of monetary losses are a result of roof damage, pipe breakage and ice dams in eaves causing water to leak into buildings.
