Insurance Journal: AIR Estimates Europe Storm Insured Losses at $5 to $10 Billion
AIR Estimates Europe Storm Insured Losses at $5 to $10 Billion
Catastrophe risk modeler AIR Worldwide has issued a bulletin estimating insured losses from Winter Storm Kyrill (or Cyril) at between €4 billion and €8 billion ($5.18 billion and $10.37 billion). The GDV German insurance industry association estimated that country's insured losses at around €1 billion ($1.3 billion).
The storm moved across northern Europe, first striking Northern Ireland, before moving on across the UK, Northern France, Belgium, the Netherlands, Germany and on into the Czech Republic, Ukraine and Poland (See IJ web site Jan.19). At one point its hurricane force winds approached 200 kph (120 mph), causing significant travel and power disruptions, flooding, and building damage.
