Four days in January cost Southwest Idaho and Eastern Oregon more than $25 million in winter storm damage. The Idaho Statesman talked with a New Jersey-based company that analyzes insurance claims data, and reports the Jan. 6-9 storm meets the industry standard of a “catastrophic event.”
Verisk Analytics says the total pricetag for damaged homes, cars and businesses is unclear.
“The total cost for collapsed buildings, wrecked cars, flooded homes and other winter damage? That’s unclear at this point. The company says its insurance loss estimations are proprietary and available only to subscribers.
And there will be plenty of replacement and repair costs that never result in insurance claims.
The Idaho Department of Insurance will get a closer look at how much this winter cost Idaho insurers during its annual audit.” - Idaho Statesman
The Statesman reports that a mid-November storm in 2015 received the catastrophic designation, with several designations in the 1990s.
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