Verisk estimated that insured property and auto losses from Winter Storm Fern could reach up to $4 billion, based on an initial assessment by its Catastrophe and Risk Solutions group. The storm, which affected large parts of the U.S. between January 23 and 26, brought freezing rain, heavy snow, severe thunderstorms, and tornadoes, with freeze-related damage expected to be the largest contributor to losses. According to Verisk’s modeling, up to 14 states may each record more than $50 million in insured losses, potentially making Fern the third costliest winter storm in U.S. history after Winter Storm Elliott in 2022 and Winter Storm Uri in 2021.

Source: Verisk, GlobeNewswire, February 3, 2026