Risk modelling specialist Moody’s RMS has estimated insured losses from Windstorm Ciarán of £0.8bn to £1.3bn. In addition to the UK and the Channel Islands, the storm affected Belgium, Germany and the Netherlands.
Giovanni Leoncini, senior product manager for Europe Windstorm Models at Moody’s RMS, said: “Windstorm Ciaràn can be thought of, as a weaker sibling of 87J, the Great Storm of 1987, which severely affected the United Kingdom and Northwest France in October 1987.”
He added: “Despite the recent period of windstorm activity, the destruction now brought by Ciaràn reminds us of the importance of extra tropical cyclones for the re/insurance industry.”
The Insurance Series 2024: Insurtech & Claims: 6th February 2024
The prediction and prevention of weather-related risks is amongst the topics on the agenda at Insurance Today’s upcoming one-day event Series.
Our topical agenda for the day features presentations, panels and debates, curated to help general insurance professionals harness the latest in thinking and technology, guided by some of the field’s foremost experts.
The full agenda for the day is available here, along with our complete speaker line-up: https://www.insurancetoday.co.uk/insurance-series/agenda.php
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