European Windstorm Insured Loss $295 Million
NU Online News Service, Oct. 31, 4:14 p.m. EST?Total insured damages from Windstorm Jeanett, which crashed through Europe earlier this week, should not exceed 298 million euros ($295 million at current exchange rates), according to a risk management services firm.
Risk Management Solutions of Newark, Calif. said the total damage value for insurers might hit one billion euros ($990 million).
The firm said Wales, the English Midlands, Netherlands and Western Germany experienced the worst wind-related damage.
In Germany, RMS said, wind damage to buildings–particularly older properties–and flooding from the accompanying heavy rain resulted in more than 80,000 insurance claims being registered in two days after the storm.
All three countries had flights and railway service disrupted, RMS noted.
RMS provides products and services for catastrophe risk management including risk modeling. For more information, see its Web site at www.rms.com.
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