Storm Sabine caused insured losses of 675 million euros ($731 million) in Germany this month, the GDV Insurance Association said on Tuesday, making it the sixth most costly storm in Europe’s largest economy since 2002.
Storm Sabine, which was known as Ciara in Britain, last week disrupted air and rail transport in countries like Germany, the Netherlands and Britain.
The damages from the storm include 600 million euros being paid by insurance companies for 500,000 damaged homes, commercial and industrial properties, GDV added. It said an additional 75 million was being paid by auto insurers.
Total insured property losses from Sabine/Ciara could be between 1.1 billion and 1.8 billion euros, catastrophe risk modeling firm RMS estimated on Friday.
[Editor’s note: The GDV is an abbreviation for Gesamtverband der Versicherungswirtschaft, the trade association that represents German insurance companies and branches of EU insurers].
($1 = 0.9237 euros) (Reporting by Thomas Seythal Editing by Michelle Martin)
Photograph: Waves from Storm Ciara hit Lyme Regis in the U.K. on Feb. 9, 2020. Photo by Finnbarr Webster/Getty Images.
Related:
- Insured Losses for Europe’s Storm Ciara-Sabine Could Hit $2 Billion: Modeling Firms
- Storm Ciara Batters Europe with Hurricane-Force Winds, Killing at Least 5 People
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