RMS Estimates Insured Losses From Windstorm Niklas Could Hit $1.5B Euro
RMS, the a global catastrophe risk management firm, estimates that insured property losses from Windstorm Niklas will fall between 750 million and 1.5 billion euro. Losses in Germany will account for around three quarters of the total loss.
The loss estimate is based on hazard reconstruction using the most recently released Europe Windstorm Model. Findings from a comprehensive investigation by the RMS reconnaissance team of the worst-affected area of southern Germany provided additional detail on the damage, which was used to validate the model output.
The estimate includes damage to property, auto, forestry, agriculture and direct business interruption but excludes losses from damage to infrastructure. RMS expects no post-event loss amplification and anticipates low business interruption losses. Losses from auto are not expected to exceed more than five percent of the total loss.
Source: RMS
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