Why Was The Texas Freeze Such An Unprecedented Event?

Texas is still shaking from one of the most damaging natural disasters in recent history.

In February 2021, the southern state and its surrounding neighbors fell prey to Winter Storm Uri -- a deep freeze event that saw temperatures plummet as low as -18C.

The storm toppled the Texas electric grid, leaving thousands of homes and businesses without power and triggering a record-breaking number of burst pipe and ice dam claims because people simply couldn’t heat their properties.

Both the predicted insured and uninsured loss figures are eye watering. According to Enki Research disaster modeler Chuck Watson, the deep freeze could cost as much as $90 billion in total losses, with $35 billion of that stemming from physical damages and $20 billion covered by insurance.

Approximately six weeks after the event, most insurers and modelers were predicting approximately $18 billion-$20 billion in insured losses from the event.