Blizzard That Struck the Northeastern United States in February 2015 Was the Costliest Natural Disaster to Occur Last Year
Monica Ningen, Chief Property Underwriter for Swiss Re
(Armonk, NY, Wednesday, March 30, 2016) – The blizzard that struck the Northeastern United States in February 2015 caused two billion dollars in insured losses. And according to a new report, we now know it was the costliest natural disaster to occur in the world in 2015. It’s the first time in 22 years that a U.S. winter storm was responsible for the world’s largest insured loss in a calendar year.
Monica Ningen, Chief Property Underwriter for Swiss Re, outlines ways to better defend communities against losses.
ONLY FORTY PERCENT OF LOSSES FROM NATURAL CATASTROPHES WERE INSURED IN TWENTY- FIFTEEN. THIS SHOWS THAT FAMILIES AND BUSINESSES ARE DRASTICALLY UNDER-PROTECTED AGAINST DISASTERS. IT’S OFTEN THE TAXPAYER AND GOVERNMENT THAT ARE LEFT TO FOOT THE BILL.
COLD WEATHER WASN’T THE ONLY MAJOR CAUSE OF ECONOMIC LOSSES IN TWENTY-FIFTEEN. THE COUNTRY SUFFERED ITS WORST YEAR FOR WILDFIRES SINCE NINETEEN-SIXTY AS A RESULT OF HOT, DRY CONDITIONS THROUGH MUCH OF THE WESTERN U.S. WE NEED TO INCREASE THE RESILIENCE OF OUR COMMUNITIES BY NOT ONLY PHYSICALLY PREPARING OUR FAMILIES AND HOMES BUT ALSO BY OBTAINING FINANCIAL PROTECTION LIKE INSURANCE.
To learn more, visit www.swissre.com.