A series of storms in the upper Midwest has brought wind damage as the year winds to a close. According to AL.com, this weather pattern has effects similar to an "inland cyclone" or lower-category hurricane. Thanks to winds as fast as 60 miles per hour, residents in states like Ohio and Michigan need to be on the alert for power outages, flooding and other symptoms of a disaster.
This storm pattern has a specific name, The November Witch, and has been known for more than a century. Business Insider states that the worst recorded version of this storm occurred in 1913 and "caused today's equivalent of $117 million in damage."
While the severity of the November Witch can vary from year to year, it still acts as a potentially major winter storm. According to the Insurance Information Institute, winter storms were responsible for more than $2 billion of insured loss damages in 2014 alone.
Between 1995 and 2014, these storms also accounted for $26.9 billion, nearly 7 percent of the $395.6 billion generated from insured catastrophe losses. That was greater than the amount of losses from fires, geologic events or wind/hail/flood events. In the first half of 2015, 11 winter storms or cold waves were noticed, with an estimated $2,900 insured losses in the United States.
Claims processing services provide much-needed manpower to resource-starved insurers in regions where significant catastrophe results in a high number of claims. Having such an organization on hand when needed relieves the pressure on insurers nationwide.