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Winter storm-insured losses estimated at more than $ 10 billion



U.S. Real estate / accident insurance companies will see insured losses of more than $ 10 billion from a series of winter storms across the United States that caused extensive catastrophic freezes and significant power outages in Texas, disaster risk modeling company AIR Worldwide said in a report on Thursday.

a significant number of expected claims, average claims risks for commercial risks upwards of $ 30,000 and $ 15,000 for housing risks and the level of demand is likely to increase losses in excess of $ 10 billion, says AIR, a Verisk company, in a statement. [19659002] However, there are various factors that can lead to the loss exceeding that figure, AIR said.

These include a higher-than-expected frequency among the risks affected by long-term power outages, regardless of whether service service outages pay off, greater-than-expected effects from demand, government intervention and whether claims from mold damage begin to emerge as a significant source of loss.

Re ports indicate that many industries in the manufacturing and energy sectors in Texas were disrupted due to rolling outages, which could ultimately lead to large damages, AIR said.

Water damage caused by frozen and blown pipes will also be an important

"Among commercial risks, several reports have shown that smaller commercial risks bear the bulk of the loss, with schools particularly hard hit," AIR said in the statement.

Freezing temperatures ̵

1; many of them record – and winter precipitation hit Texas and the southern United States on February 13 and lasted until February 18.

More than 800,000 commercial / industrial risks and nearly 12 million residential properties were affected by the areas of Texas affected by the incident, AIR said

Although there is still uncertainty, about 80% of the number of damages is expected to come from personal lines, said AIR.

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