Perils A.G. raised its estimate of the insured property market loss from windstorm Herwart to €255 million ($316.9 million).
The extratropical cyclone affected Austria and Germany in October. Perils raised its estimate of damage from the initial loss estimate of €252 million in December, the Zurich-based catastrophe loss data company said Monday in a statement.
The organization will release its third loss estimate for the windstorm on April 29.
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).