Extreme weather not only has many of as running off to snap photos of frozen rivers. The latest series of dropping climates and debut of the polar vortex in North America has played with the health of the economic activity. With over 4,000 flight cancellations, train delays, business set-backs, and school closings, you can say not many people have been enjoying the winter chill. Bad news for street vendors and restaurants, business has decreased enough to put a dent in yearly sales charts.
With endless stories of car and home damage, everyone is looking at their insurance companies to cover the falls. The Insurance Information Institute says that weather is the third largest cause of insurance catastrophe. According to Verisk Insurance Solutions, companies are in over their heads with over 1.4 billion dollars in winter storm claims.
State and local government surely have not budgeted for spontaneous costs of repair due to extreme winter. President of a business weather intelligence company Plantronics, Scott Benhardt claims this is a cold spin we haven't seen in twenty years in major population centers. Benhardt also notes there are certainly benefits to such spontaneity, merchandisers only claim gift card purchases during the holiday season once their redeemed as revenue . In addition, sales in heaters, clothing, hot cereal and all winter gear have increased up to 86%. Snow removal services has also increased by a whopping 161%. The electric and gas company are also benefiting greatly while everyone tries to stay warm in their home by cranking up the heat and jiving up the entertainment.
With all its ups and down everyone would agree they're ready for the winter chill to calm down so they can chill out and recover.
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