Laina Hammond, left, is Investment Manager and Head of the Houston office at Validity Finance, and Sarah Williams, right, is Portfolio Counsel at Validity Finance. Courtesy photos
Although temperatures have normalized and power has been restored, the economic damage of last month’s winter storm is just beginning to be tallied.
Some experts estimate that damage from Winter Storm Uri could end up costing Texas as much as $295 billion—rivaling even the economic damage caused by Hurricane Harvey. This is because, unlike the relatively localized harm that typically follows a hurricane, Uri’s wrath blanketed the state, resulting in damage to hundreds of businesses—both large and small—in the form of physical loss, business interruption, lost revenue, and long-term reduced output.
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