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Author(s) Victoria Lund Alisha Esshaki

Winter Storm Elliott review: Why are US winter storm losses so tricky to estimate?

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Swiss Reinsurance Company (Swiss Re)
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In this Newsbyte, experts explore the losses caused by Winter Storm Elliot and the reason they are so tricky to estimate. In the days leading up to Christmas 2022, the US and parts of Canada were frozen solid by Winter Storm Elliott. Nearly 1.5 million were left without power, leading to countless holiday and event cancellations - not to mention numerous other challenges. 

The industry made early assessments to better understand the impact and book the appropriate reserves. But in the months that followed, Elliott came under unexpected market-wide upwards loss pressure. But why? Take a look at this brief.

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Themes Economics of DRR
Country and region United States of America
Cover
Number of pages
3 p.
Publication year
2023

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