Guidewire HazardHub released winter weather risk data to help insurers and property owners across the United States better understand and prepare for cold-weather threats. Last year, winter storms in the United States resulted in approximately $3.4 billion in insured losses.
HazardHub data indicates 31.4 million U.S. housing units will experience over 30 days of temperatures below 32ºF this winter, identifying top perils such as frozen pipes and snow load. The average cost of a frozen pipe insurance claim is approximately $18,000. This data is available through Guidewire PolicyCenter, InsuranceNow solutions, and the HazardHub API, enabling improved risk assessment and underwriting accuracy.
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