Insured US storm losses up to $1.4 billion

Losses to insured property and automobiles were estimated between $790 million and $1.4 billion from the winter storm that cut a swath from Texas to Canada this week, catastrophe modelling firm AIR Worldwide said on Friday.
The storm on Tuesday and Wednesday brought snow, sleet, rain and freezing rain with states of emergency declared in Illinois, Indiana, Missouri and Oklahoma, affecting nearly 100 million people in 30 states.
AIR Worldwide said in a press release that its insured loss estimates reflect insured physical damage to residential, commercial, industrial and auto property, both structures and their contents; additional living expenses for residential claims and business interruption losses. The Boston-based company said it provides risk modelling software and consulting services for natural disasters and terrorism in 50 countries.