U.S. winter storms cause $100 million in economic losses in February

February was marked by severe winter storms in the United States, with states of emergency being declared in at least six states, notes the latest Global Catastrophe Recap report from Aon Benfield.

A powerful Nor’easter brought 102 cm of snowfall in Connecticut, and coastal flooding in Massachusetts, including in Boston, the report notes. While only a “modest number” of insurance claims were filed, economic losses are estimated at $100 million, the report suggests.

Another winter storm in the Southeast U.S., which including a powerful tornado, damaged more than 1,600 homes business and other structures in the Forrestand Lamar counties of Mississippi, Aon notes.

“As was the case in January, flooding and active winter weather continued to produce the largest global loss events during February, with the United States being particularly impacted by a series of powerful winter storms,” noted Steve Jakubowski , president of Impact Forecasting, Aon Benfield’s catastrophe model development arm.

“While the damage was widespread, economic losses across the affected U.S. states were within the expected range for events of this magnitude, and, in some cases, insured losses were actually lower than might have been expected.”

Tropical Cyclone Rusty also hit Australia last month, causing slight damage but with rains of 500 mm, the report adds.

The full Global Catastrophe Recap for February 2013 is available on Aon Benfield’s website.