Core Insights - Verisk estimates insured industry losses from Winter Storm Fern could reach USD 4 billion, primarily driven by freeze impacts, with additional losses from wind and snow [1] - The storm affected multiple regions, including the Midwest, Northeast, South, Tennessee Valley, and Mid-Atlantic, from January 23 to 26, bringing freezing rain, heavy snow, and severe thunderstorms [2] Loss Modeling - Early results from Verisk's updated U.S. Winter Storm Model indicate that 14 states may each exceed USD 50 million in insured losses, potentially making Fern the third costliest U.S. winter storm on record [3] - The storm's intensity was attributed to the collision of warm, moist subtropical air with extremely cold Arctic air, complicating loss estimation due to varied regional impacts and ongoing power outages [4] Model Enhancements - The updated U.S. Winter Storm Model, scheduled for release in June 2026, includes enhancements that improve the simulation of storms like Fern and better capture primary loss drivers [4][8] - The model explicitly accounts for the impacts of freezing rain and the vulnerability of U.S. power interconnections, which can lead to outages and subsequent damage [8] Ongoing Monitoring - Verisk continues to monitor the impacts of Winter Storm Fern and may provide additional information as it becomes available [5]