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Europe's March windstorm could blow in $1.6 billion in insured losses


Insured property losses from Windstorm Niklas that hit Europe in March will be between €750 million ($810.5 million) and €1.5 billion, ($1.62 billion) according to catastrophe modeler Risk Management Solutions Inc.

Losses in Germany will account for about three-quarters of the total, RMS said Monday.

The estimate includes damage to property, autos, forestry and agriculture and direct business interruption claims, RMS said.

The storm, which hit during the last week of March, also caused widespread damage in Austria, Belgium, the Czech Republic, France, Ireland, Luxembourg, the Netherlands, Poland, Switzerland and the United Kingdom.