Insurable damages to homes, businesses, and industrial facilities and vehicles totaled $5.4 billion from Winter Storm Elliot, according to model Karen Clark & Co (KCC).
The storm affected 42 states from December 21 to December 24 with below freezing temperatures, high winds, and snow – including more than 40 inches in Buffalo , New york.
“The most recent lake-effect snowstorm in November 2022 produced a large snowstorm in Buffalo but was not matched by strong winds and single-digit temperatures, creating the effect the lake is associated with more severe Elliott,” KCC said.
Approximately 50% of the business losses will result in 50% of the estimated losses. The cold temperature, which caused many accidents and pipe collapses in homes, businesses, and factories, will cause a lot of losses from Elliot.
The most affected states are Texas, Georgia, Tennessee, North Carolina, and New York, KCC said.
Image: Worker trucks are parked in a neighborhood after a winter storm in Western New York Tuesday, Dec. 27, 2022, in Amherst, N.Y. (AP Photo/Jeffrey T. Barnes)
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