Friday's killer windstorm that tore through Scotland, Northern England and parts of Europe, could cause insured losses over $1 billion according to a catastrophe modeling firm.
Newark, Calif.-based catastrophe modeler Risk Management Solutions it had analyzed the insured exposure from Windstorm Emma and estimates that total insured losses will be between 300 million euros ($457 million) and 700 million euros ($1.07 billion). This includes losses to residential, commercial and industrial properties.
The Guy Carpenter Instrat unit, in a CAT-i report, said the storm, which lasted through Saturday, resulted in "tens of millions of euros" worth of damage, according to German authorities. Instrat said there were 14 people reported killed.
A preliminary estimate by the Austrian insurance association said the total amount of claims might hit 100 million euros ($151.9 million).
Instrat cited a statement from a spokesman for Ceska Pojistovna, the Czech Republic's largest insurer, that the cost of claims is expected to hit $6 million.
Earlier RMS had downplayed the storm impact. "There is little evidence of this becoming a major insurance catastrophe for the region," commented Barbara Page, senior model manager for European windstorm at RMS. "We can expect moderate to low insured losses in most of the affected areas, mainly due to minor roof damage, falling trees and other wind-blown debris."
The firm said also that Austria and the Czech Republic appear "set to experience the most serious impact, but Germany, because of its size, will see the majority of the overall insurance losses."
AIR Worldwide in Boston today put the death toll at 13. The firm said it was running its European windstorm model to estimate losses from the event, named Emma, which it said carried hurricane-force gales and intense rain.
According to AIR, Emma caused considerable damage in Western and Southern Germany, as well as Austria and the Czech Republic, with minor damage in Belgium, the Netherlands and the United Kingdom.
The Risk Management Solutions modeling firm, based in Newark, Calif., said the storm in Central Europe carried heavy rains and winds of up to 124 miles per hour that blew cars off roads, tore roofs off houses and felled trees.
Reports from Germany said that gale-force winds toppled power lines, which knocked out over 5,000 transformer stations across the country, cutting power to hundred of thousands of homes.
In the southern state of Bavaria, 150,000 homes lost power and the rains caused flooding. Austrian reports said that strong winds caused rockslides, felled trees, and cut power to 10,000 homes.
In Poland, there were reports that the roofs of over 350 houses were destroyed.
Emma was said to have collapsed a bridge and closed four Black Sea ports.
This article updated March 5, 9:38 a.m. EST
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