How Spring Weather Could Impact the Insurance Landscape in 2023

Published March 20, 2023

Spring weather is like a box of chocolates: You never know what you’re going to get. And yet, established seasonal forecasts combined with common-sense measures, can help mitigate future property damage and claims. 

Here’s a quick look at what various weather prognosticators expect this Spring and how to help clients manage the fallout witnessed in 2022.

This Spring’s Current Weather Predictions

Meteorologists expect the Northeast to experience intermittent snowfall in 2023 throughout the balance of March and into April,¹ with potentially unseasonably warm ocean temperatures and potential Arctic air blasts posing a risk of nor’easter-type storms. Heavy, wet snow can increase the risk of roof damage or outright collapse. Thus, strategic actions in areas at risk might include keeping snow removal equipment close at hand through mid-April. 

From the Gulf Coast to the Plains along with parts of the Midwest, a near-record number of tornadoes cropped up in January.² But forecasters anticipate fewer occurrences in these regions of the country this March when compared to last season, which experienced 233 twisters.³ The majority of tornadic activity is again expected to happen outside of the traditional tornado alley. Businesses in these regions may consider buttressing windows and doors with more impact-resistant materials. 

On the West Coast, an unusually high amount of snowfall and continuous wet weather has helped alleviate drought conditions in California.⁴ While the situation is far from over, more optimistic outlooks on drought relief have been fashioned for areas along the Colorado River basin into parts of Utah, Arizona and Nevada.⁵ Even with some letup in sight, businesses at risk of wildfires should evaluate building and other structures coverage amounts.

Using the Past to Reduce Future Claims

It can be difficult to predict future weather results based on historical experience. However, stakeholders who learn valuable lessons from the past can often reduce the amount of tangible and intangible damage that severe weather inflicts. 

Catastrophes and natural disasters accounted for $313 billion in economic losses in 2022; $299 billion of those losses were attributed to weather and climate events. Yet only 42% of damage was covered by insurance.⁶ If there’s one takeaway from 2022, it’s that regular and frequent coverage reviews, combined with risk management best practices, should be scheduled and will benefit both building and property owners as well as insurance companies and their estimators. 

4 Tips to Help Reduce Property Claims

It’s wise to devise a strategy to mitigate claims costs and for building owners and property managers to take practical steps to reduce damage from rainstorms, tornadoes, flooding, hail, and other potential severe weather events this spring. 

Some of the steps building owners and operators can champion include: 

1. Inspect the property regularly for potential hazards, especially from the top down. Roof inspections can reveal structurally unsound or missing roofing materials and/or damaged gutters.
2. Perform frequent property inspections and cleanups — especially around building and structure perimeters. Keeping property free of debris can help prevent it from acting as a projectile in high winds.
3. Outdoor furniture, raw materials and decorative objects can also be propelled by high winds. Secure these objects or place them inside to avoid the perils associated with strong windstorms.
4. Run a controlled test of the property’s drainage system. Periodic testing could alert you to malfunctioning drains or line blockages that could cause flooding or backup during storms. 

For more strategies to protect your commercial property from potentially hazardous Spring weather, contact RMC Group today.

This information is intended for informational purposes only. Each restoration project has unique properties and must be evaluated individually by knowledgeable consultants. Additionally, cutting samples of roof assemblies should be performed by qualified professionals and in some instances approved by the roofing manufacturer. RMC Group is not liable for any loss or damage arising out of or in connection with the use of this information.

Sources:
¹ AccuWeather “Spring forecast looks snowy for some, AccuWeather experts say,” February 3, 2023. 
² AccuWeather “This January could go down as 2nd most active for tornadoes,” January 27, 2023.
³ AccuWeather, “AccuWeather’s 2023 US tornado, severe weather forecast,” March 9, 2023 
⁴ AccuWeather “24 trillion gallons of water have doused California amid historic stormy streak,” January 12, 2023. 
⁵ AccuWeather “Spring forecast looks snowy for some, AccuWeather experts say,” February 3, 2023. 
⁶ AON “2023 Weather, Climate and Catastrophe Insight,” 2023.