Winter’s Price Tag – $5 Billion!

The U.S. 2013-14 winter was vicious, cold and expensive, causing almost $5 billion in damage to homes, businesses, infrastructure and agriculture — about $2 billion above average!

Calculated using data from Aon Benfield, the global reinsurance firm based in London, this total does not include travel and transportation losses or other business disruption, which would add billions of dollars to this figure.

Flight disruptions alone have already cost airlines, airports and passengers an estimated $5.8 billion, according to a report by masFlight, a group that analyzes aviation operations.

This has been a rather costly and eventful year for winter weather events in the United States,” said Steve Bowen, Aon Benfield meteorologist and senior scientist. While the $5 billion total is higher than the recent 10-year average and the highest since 2010-11, it’s not ranked as one of the costliest.

 

Stay Safe. Know Before™.

The WeatherBug – Earth Networks Team

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This entry was posted in General, Winter.