Aon: Price Tag of Terrible Winter Weather: Over $1 Billion
A winter's worth of record snowfall carried a monetary cost, and it's big. Five separate periods of heavy snow in many parts of the country in February, combined with other weather events, likely resulted in insured losses of more than $1 billion, according to reinsurance broker Aon Benfield. A winter storm that impacted the Midwest, Southwest, Plains and Northeast from Jan. 31 through Feb. 4 cost "hundreds of millions" in insured losses.
Aon Benfield's catastrophe model development team said Boston registered its snowiest (64.8 inches) and second-coldest February on record and was poised to challenge the winter season of 1995/1996 as the snowiest in recorded history. (Those of you reading this in Florida and Hawaii, please stop smiling).