Sturm, Hagel, Überschwemmungen: Versicherer erwarten eher niedrige Naturkatastrophenschäden

German insurers anticipate below-average damage from natural disasters this year due to the absence of severe winter storms, according to the Gesamtverband der deutschen Versicherungswirtschaft (GDV). Storms, hail, heavy rain, and flooding caused around 950 million euros in damage during the first half of the year, with the GDV forecasting a total of two billion euros for the entire year.

This would be over a billion euros less than an average year. For the year to end without major catastrophes, the lower damage figures are considered a fortunate occurrence, according to GDV estimates. However, this should not be interpreted as a lack of climate change impact, as Jörg Asmussen, GDV's chief executive officer, stated.

The low damage figures in the first half of the year were simply a matter of luck, as long-term statistics show that weather extremes caused by rising temperatures and the resulting damage have increased. In a ten-year average, flooding, flooding, and backup alone are responsible for annual damages of 2.4 billion euros and have caused significant damage to houses, apartments, and businesses.

From 2000 to 2009, average damages were significantly lower at around 1.4 billion euros. Asmussen noted that the summer of 2020 with record temperatures also demonstrates that climate change continues to progress. The GDV statistic only covers insured damages, meaning that all houses in Germany are required to be insured against storms and hail under the mandatory building insurance, but not against flooding and other so-called elemental damages.

Currently, 59% of residential properties are insured against elemental risks such as flooding or heavy rain.