Insurance industry underestimates hail losses

Tamara Soyka, head cat perils EMEA at Swiss Re Institute, said that hail events are being underestimated in current French insurance industry benchmarks despite the country facing frequent and severe hailstorms, Reinsurance News reported. Ms. Soyka cited the French Federation of Insurance’s claims estimates for hail storms this year, which reached a record high of €4.8 billion ($5 billion).