Storms, hail, floods: insurers expect relatively low natural disaster losses
Heat and drought have made climate change a bigger topic again. The actual damage from natural disasters has so far been below average. Good luck, say the insurers.
German insurers expect below-average damage from natural disasters this year, thanks to a mild winter. In the first half of the year, storms, hail, heavy rain, and floods caused around 950 million euros in damages, and the industry association GDV expects a total of 2 billion euros for the year, significantly lower than the average.
However, the GDV notes that this is largely due to luck, as climate change is still leading to an increase in extreme weather events and damages in the long term. The GDV reports that the 10-year average damage from heavy rain, flooding, and backwater is 2.4 billion euros, up from 1.4 billion euros from 2000 to 2009.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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