Catastrophe risk modelling firm, RMS, has estimated that the insurance and reinsurance industry loss from July’s devastating flooding across Europe could be as high as €6.5 billion (US $7.7bn). Industry analysts believe, however, that RMS’s estimate may prove too low as its lower insured loss for Germany is lower than even the country’s own insurance […]
Tag: Germany floods
Aon Estimates Europe Floods Losses Could Surpass $10Bn
Aon, a leading UK-registered professional services firm, has projected that economic losses from the recent severe flooding across Europe could likely exceed US $10 billion. The brokerage firm’s another data indicated that the impacts of the devastating floods, which hugely damaged parts of Central and Western Europe this month, with Germany the country worst affected, […]
Catastrophic Floods: Moody’s Forecasts Tough Year For German Insurers
The recent catastrophic flooding in Germany as a “consequence of climate change,” has been described by analysts at Moody’s as potentially challenging for the country’s risk underwriting firms and warned that German insurers could find it difficult to protect homeowners against climate risk in future without significant price increases. It would be recalled that the […]