February 23, 1996 in Nation/World

Blizzards Cost Insurers Nearly $2 Billion

Compiled From Wire Services

Property insurers have suffered losses of nearly $2 billion from wind damage, collapsed roofs, power outages and burst pipes caused by this year’s blizzards, a trade group said Thursday.

Forty-one states have suffered the damage, said Property Claim Services, a division of American Insurance Services Group Inc.

The group said it is the highest amount of losses due directly to winter storms through February. Insurers incurred nearly $3 billion in losses in the winter of 1993, but much of that was due to a blizzard in mid-March.

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