Thank you for sharing!

Your article was successfully shared with the contacts you provided.

August 29, 2015 marks the 10-year anniversary of the largest-ever windstorm loss and the costliest disaster in the history of the global insurance industry. To mark the date, a new risk bulletin from Allianz Global Corporate & Specialty (AGCS), “Hurricane Katrina 10: Catastrophe Management and Global Windstorm Peril Review,” published Aug. 18, analyzes windstorm risks and losses and examines the business lessons learned from Katrina for future global windstorm loss mitigation, given increasing weather volatility.

Whether hurricanes in the U.S., typhoons in Asia or winter storms in Europe, the report’s authors note, strong winds can easily cause property and business interruption losses for companies, as indicated by an analysis of more than 11,000 AGCS major business insurance claims greater than €100,000 worldwide from 2009 to 2013. More than 400 storm-related claims were filed during this period, showing that windstorm ranks fifth in the top 10 causes of loss for businesses according to the value of the claims. Windstorm losses account for approximately 40% of all natural hazard losses by number of claims and 26% by value, according to AGCS analysis.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.