In this Issue:

SNOW AND ICE DAMAGE CAUSING BIG PROBLEMS FOR BUILDINGS

WINTER OF 2014 ONE OF THE COSTLIEST SINCE 1980

WINTER STORM STATISTICS FROM THE I.I.I.

SNOW AND ICE DAMAGE CAUSING BIG PROBLEMS FOR BUILDINGS

SNOW AND ICE DAMAGE CAUSING BIG PROBLEMS FOR BUILDINGS

Snow and ice buildup from this winter season is causing big problems for residents and business owners who haven’t cleared off their roofs, and a spring thaw promises to compound the trouble.

Mid February brought a warm-up which caused snow to melt and brought with it rain. With all of the warm and wet weather, snow and ice on rooftops melted and caused plenty of roof leaks, leading to headaches and emergency clean-ups. Ceiling tiles may begin to crash to the floor and water may leak into the buildings from rooftops. Most roofs have drain systems and many drains have electric heaters to keep them from freezing, however often times the downspouts may freeze outside causing water to enter the building.

Roof problems and plumbing issues have been more widespread this year than in years past. Ice damming has been reported to be a major issue. Now that temperatures have dropped well below freezing again, roof maintenance experts say those who haven’t cleared their roofs and draining systems could face more problems when a spring thaw does arrive. Removing ice build-up is recommended to avoid water getting into walls of buildings. A roof rake is the recommended method to remove the snow/ice buildup. Waiting to remove this may lead to leaks. With all of the severe winter weather and the resulting claims, be mindful that your local I-ENG-A member stands ready to help.

Source: Stevens Point Journal

WINTER OF 2014 ONE OF THE COSTLIEST SINCE 1980

WINTER OF 2014 ONE OF THE COSTLIEST SINCE 1980

The Insurance Information Institute (I.I.I.) reports insured losses from severe winter storms in 2013 totaled $2 billion. Yet, near record snowfall and prolonged cold weather throughout many parts of the United States have resulted in more than $1.5 billion between January 1 and February 21, 2014. This includes more than 175,000 claims paid to policy holders. The I.I.I. explains that the majority of insured losses were from collapsed roofs, tree limbs and power lines, burst pipes and automobile accidents.

Additionally, many companies have reported business interruption losses due to severe travel and transportation delays. Given that winter does not officially end until March 19, it is estimated that this winter could be the costliest since 1980.

Dr. Robert Hartwig, president of the I.I.I. and economist indicates that severe winter weather, including snow, sleet, freezing rain, extreme cold and ice damage accounted for 7.1 percent of all insured catastrophe losses between 1993 and 2012, placing it third behind hurricanes and tropical storms (40 percent) and tornadoes (36 percent).

Additionally, while most winter storms typically occur in the northern states, this year’s weather affected millions of home and business owners in the south. Many of these businesses were unprepared for these types of conditions.

Dr. Hartwig added that despite the severity of the storms this winter, the insurance industry entered 2014 with plenty of capital and are reported to be in rock solid financial condition.

Source: Insurance Information Institute

WINTER STORM STATISTICS FROM THE I.I.I.

WINTER STORM STATISTICS FROM THE I.I.I.

“Winter storms caused $2 billion in insured losses in 2013, up dramatically from $38 million in 2012, according to reports from Munich Re. From 1993 to 2012 winter storms resulted in about $28 billion in insured catastrophe losses (in 2012 dollars), or $1.4 billion per year on average, according to PCS.

“Three of the four most costly years ever for insured losses from winter storms and damage occurred in the 1990s, led by the ‘Storm of the Century’ in 1993,” said Hartwig. Also known as the Great Blizzard of 1993, it affected 24 U.S. states and Canada, causing more than $3.2 billion (in 2013 dollars) and 270 fatalities. Areas as far south as central Alabama and Georgia received 6 to 8 inches of snow, Birmingham, Alabama, received up to 12 inches with isolated reports of 16 inches, according to the National Oceanic and Atmospheric Administration. Even the Florida Panhandle reported up to 4 inches of snow with hurricane-force wind gusts.”

Source: Insurance Information Institute