Prolonged winter storms in US result in cat losses exceeding hundreds of millions of USD: Aon

With the cumulative effects of the winter storms across the United States, total economic and insured losses are anticipated to surge into the hundreds of millions USD, possibly higher, according to Aon’s latest weekly cat report released on January 26, 2024.

Severe winter storms have besieged the US for three consecutive weeks, leaving a trail of destruction, claiming the lives of at least 92 individuals.

The report reveals an unprecedented combination of heavy snowfall, freezing rain, and significant flooding, particularly in Southern California.

The period from January 18 to 22 witnessed a resurgence of winter weather across the Great Plains, Midwest, and Mid-Atlantic.

A subsequent ice storm in northwest Oregon was followed by heavy lake-effect snow, notably affecting Michigan, Indiana, and New York. Southern California, including San Diego and Ventura Counties, experienced an extreme rainfall event on January 22, deemed a “1-in-1000-year flooding event.”

San Diego International Airport recorded 2.73 inches of rain in a single day, surpassing records dating back to 1851.

The toll of the ongoing winter storms is alarming, with around 92 reported fatalities. Southern California, particularly San Diego and Ventura Counties, declared a state of emergency as catastrophic flooding wreaked havoc, leaving hundreds of homes, businesses, and vehicles in ruins.

The Southern U.S., including Texas, Louisiana, and Mississippi, also faced substantial flooding, leading to boil water notices for over 600,000 people in the Memphis, Tennessee metro area.

As of January 24, San Diego County officials reported over 1,000 people submitting flood damage surveys, indicating the widespread impact of the calamity, the report noted.

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