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Historic Winter Storm Expected to Cause Up to $115 Billion in Economic Losses
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USA Herald
A powerful winter storm that swept across more than 24 states over the weekend, affecting over 200 million people, is projected to cause between $105 billion and $115 billion in total damage and economic losses, according to AccuWeather.
These include property damage, job and wage losses, agricultural losses, infrastructure damage, supply chain interruptions, auxiliary business losses, flight delays, and other storm-related costs.
Signup for the USA Herald exclusive Newsletter First Name Email Address: Leave this field empty if you're human:“The scope of this winter storm was extraordinary,” said AccuWeather Chief Meteorologist Jonathan Porter.
The extreme cold following the storm significantly increases risks and slows recovery in many of the hardest-hit areas.”Jasper Cooper, vice president and senior credit officer at Moody’s Ratings, said insured losses from Winter Storm Fern are expected to reach into the billions of dollars.
“The most costly winter storm in terms of insured losses to date was the 2021 Texas freeze, which caused an estimated $18 billion in losses,” Cooper said.