The massive blizzard bearing down on the U.S. Northeast is poised to be the latest in a rising number of extreme weather events that take a growing toll on the U.S. and global economies. The winter storm,dubbed Juno, is threatening to shut down roads, damage infrastructure, shutter offices and strand millions of people at home this week.
It could dump up to 3 feet of snow across seven states between Monday and Tuesday evening, the National Weather Service predicts. Power outages, public transit failures, and thousands of flight cancellations are likely in major cities along the Boston-to-Philadelphia corridor. “This could be a storm the likes of which we have never seen before,” New York City Mayor Bill de Blasio warned at a Sunday news conference.
Across the world, natural and man-made disasters totaled $113 billion in 2014, according to preliminary estimates from Swiss Re, the world’s second-largest reinsurance company. While the number is lower than 2013 and 2012 totals, it still indicates the rising threat that people and properties face from extreme weather events. 
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