BERLIN: Catastrophe risk management firm RMS has issued an insured loss estimate from Windstorm Niklas ranging from 750 million euros to 1.4 billion euros, with Germany looking as though it will absorb the lion’s share of the hit.
The loss estimate for Niklas, which hit Europe in late March, is based on hazard reconstruction using the latest version of RMS’s Europe Windstorm Models.
The estimate includes damage to property, auto (not expected to exceed more than 5% of the total loss), forestry, agriculture and direct business interruption (anticipated to be low) but excludes losses from damage to infrastructure, notes an RMS statement Monday. RMS expects no post-event loss amplification.
The company reports it appears that Germany will account for approximately three-quarters of the total loss.
“Findings from a comprehensive investigation by the RMS reconnaissance team of the worst-affected area of southern Germany provided valuable detail on the damage, which was used to validate the model output,” the company statement notes.
