View this article online: https://www.insurancejournal.com/news/international/2018/02/27/481666.htm
Extratropical cyclone Thomas, also known as Doris in the UK and Ireland, had an insured price tag of €248 million ($305.4 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data.
This fourth and final insured property market loss for Thomas, compares to the third loss estimate of €249 million, which was issued on Aug. 23, 2017. The storm hit the British Isles, Belgium, the Netherlands and Germany on Feb. 23-24, 2017, with the majority of the losses occurring in the UK.
Low pressure system Thomas, named Doris by the UK Met Office, developed rapidly in the eastern North Atlantic during the evening of Feb. 22, 2017, said PERILS. After hitting Ireland and the UK on Feb. 23, 2017, Thomas moved further to the southeast through Belgium, the Netherlands and Germany. The winds generated by Thomas reached a maximum gust value of 152km/h (94 mph) over the British Isles in Capel Cruig (Wales).
PERILS’ market loss numbers for Thomas are based on ultimate gross loss data collected from affected insurance companies. The event loss information is made available per CRESTA zone (two-digit postcode) and per property line of business, together with loss ratios and wind speed data at the same resolution.
This kind of information is ideally suited for the calibration of windstorm models, said PERILS.
Source: PERILS
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