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Late Winter Storms Bring Record Frigid Temps and Business Disruption to Europe

March 9, 2018 Leave a comment DRI Admin

Winter storms and a blast of arctic air in late February brought record cold temperatures to Europe and the United States, while earthquakes brought destruction in Papua New Guinea and Taiwan, according to the latest Global Catastrophe Recap.

Unusually heavy snow and freezing rains from Winter Storm Emma led to thousands of flights canceled and the close of many different business sectors due to the bad weather. There were also at least 88 reported deaths due to hypothermia and other incidents. Including the business interruptions, the total financial cost could reach well into the millions (USD).

Travel disruption due to two late winter storms also affected the U.S. The eastern and central parts of the country also saw severe thunderstorms that caused widespread damage and at least 15 fatalities, prompting states of emergency to be declared in parts of Indiana, Kentucky, Louisiana, Michigan, Missouri, and Ohio.

Meanwhile, a powerful earthquake struck Papua New Guinea on Feb. 26, killing at least 75 and injuring more than 500. The government has allocated $140 million USD for initial recovery efforts in the wake of destruction to homes, structures and regional infrastructure. Earlier in the month, an earthquake also struck offshore eastern Taiwan, damaging the city of Hualien, killing 17 and injuring 278 others.

Click here to read the complete report from Aon Benfield.