Verisk estimates industry insured losses from Ciarán between €800mn-€1.3bn

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Industry insured losses due to wind from Winter Storm Ciarán are expected to range between €800 million and €1.3 billion, the majority of which are expected in France, according to Verisk.

Flood insurance and reinsurance imageWindstorm Ciarán (also named Emir by the Free University of Berlin), struck Western Europe on November 1-2, leaving a trail of devastation and economic uncertainty in its wake.

The storm impacted the United Kingdom, Belgium and the Netherlands. But it was northwestern France and the Channel Islands faced the brunt of the storm.

The low-pressure centre of Ciarán arrived in south-western parts of England overnight into Thursday 2 November at 952 mb, the lowest pressure ever recorded in England and Wales in November.

However, high-exposure regions in the area were spared the worst impacts from the storm. Rainfall totals in north-western Europe were less remarkable, but following a period of sustained wet weather, there was some further flooding in parts of southern England.

The storm also caused significant flooding in southern parts of Europe, most notably the Tuscany region of Italy, far away from the centre of the storm.

In France, the worst damage was in the northwest, in Brest. Similar impacts were observed in the Channel Islands. Jersey in particular was very hard hit, with some of the more extreme roof and structural damage there likely caused by a strong tornado that was spawned by the storm.

Jersey also saw golf ball-sized hail which contributed to both roof and automobile damage. The large amount of tree-related damage from this storm was exacerbated by the fact that most trees in the region still have leaves on them and the ground was quite saturated, making it more likely for trees to become uprooted or fall over.

Verisk’s modelled insured loss estimates include insured physical damage from wind to property (residential, commercial, industrial, agricultural, and motor, including structures and their contents, as well as business interruption and additional living expenses (for the UK only).

These modelled insured loss estimates do not include losses due to coastal or inland flooding, tornadoes or hail, uninsured properties, demand surge or losses to infrastructure.

They also do not include additional living expenses (ALE) for residential claims for all modelled countries, except the UK; nor losses caused by Storm Domingos, which affected France and Spain starting on Saturday 4, Verisk noted.

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