European windstorm’s insured losses raised: Perils
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Perils AG raised its estimate of the insured property market loss from Windstorm Herwart to €264 million ($301.1 million).
The final loss estimate for Herwart, an extratropical cyclone that primarily affected Austria and Germany in October 2017, rose from the €255 million projection released in January and reaffirmed in April, the Zurich-based catastrophe loss data company said Monday in a statement.
Herwart was a rapidly moving system bringing extreme wind conditions that lasted for only a few hours, with peak gusts of 176 kilometers per hour (109 miles per hour) in Germany and 180 kph (112 mph) in Austria, the company said.
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Storm Herwart likely to cause nearly $350 million in insured losses
Storm Herwart, which struck Germany, Poland, Hungary and Czech Republic on Oct. 29, has caused an estimated €300 million ($348.5 million) of insured losses, 1asig.ro reported. Czech insurers have received nearly 18,000 claims worth about 400 million Czech koruna ($18.2 million). The insurers expect the figure to rise to 30,000 claims amounting to CZK 900 million. Meanwhile, Hungarian insurance association Magyar Biztositok Szovetsege said that local insurers received about 3,200 claims worth more than 300 million Hungarian forint ($1.1 million).
