• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Wednesday, July 6, 2022
  • Login
  • Register
Business Post
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Insurance

Insured Losses From Europe Floods Could Reach £5.6bn – RMS

Nwanne Ikemefune by Nwanne Ikemefune
August 25, 2021
in Insurance
0 0
0
Insured Losses From Europe Floods Could Reach £5.6bn – RMS
0
SHARES
11
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Insured losses from the Western and Central Europe flooding between 12th and 18th July will likely range between £4.3bn and £5.6bn, according to RMS.

RMS reconstructed a flood hazard footprint that covers the worst affected areas, including western and southern Germany, eastern Belgium, eastern France and Luxembourg.

Germany is the dominant contributor of loss to the event with about 70% of the total loss, followed by Belgium with about 25%.

Daniel Bernet, product manager, Europe Flood Models, RMS said: “In terms of loss, this event is expected to be comparable to the costliest European flood events in recent history, the Central and Eastern Europe floods of 2002 and 2013. However, unlike the 2002 and 2013 events during which overtopping and breaching of major rivers contributed substantially to overall damages, the 2021 event occurred in a different region and was characterised with much steeper and faster flood waves with higher flow velocities in smaller rivers and tributaries that caused substantial structural damage, and regretfully, an unusually high number of fatalities.”

The loss estimate includes insured property and business interruption loss to residential, commercial, industrial, automobile and infrastructure lines and accounts for the potential of post-event loss amplification and extended business interruption.

The figures exclude losses observed in the Netherlands, which sits outside of the model domain, and losses in Switzerland, Bavaria and Saxony in Germany, and Austria, which were caused outside the time window of the heaviest rainfall.

Source: www.cirmagazine.com
Previous Post

Strategic Disposals, Technology And Regulators Key Insurance M&A Drivers Globally

Next Post

Mitigating Shipping Risk Benefits Everybody

Nwanne Ikemefune

Nwanne Ikemefune

Next Post
Brit Launches New Marine War Consortium

Mitigating Shipping Risk Benefits Everybody

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
ILAN Picture

Loss Adjusters Receive Charge To Match Speed Of New Developments

April 3, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

April 3, 2022
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
ncrib logo

NCRIB And Universal In Pictures

August 23, 2020
How Strong Is The Reinsurance Sector Going Into 2021?

How Strong Is The Reinsurance Sector Going Into 2021?

349
Scib CEO Tinubu

Professionals Want Value Dimension Added To Enhance Compulsory Insurance

48
PenCom Trigger Lifts Transfer System Off The Starting Block With Split Responsibilities

Pension Funds Encounter First Waterfall

42
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

41
Road Sanity Bonanza: Nigerians To Be Rewarded For Good Driving

Road Sanity Bonanza: Nigerians To Be Rewarded For Good Driving

July 5, 2022
Inflation To Drive Insurance Protection Gap To New High In 2022: Swiss Re

Inflation To Drive Insurance Protection Gap To New High In 2022: Swiss Re

July 1, 2022
Nigeria’s Babajide-Agbeja Takes The Helm At Africa Insurance Brokers Association

Nigeria’s Babajide-Agbeja Takes The Helm At Africa Insurance Brokers Association

June 30, 2022
Africa And Asia Lead Emerging World On Climate Commitments

Africa And Asia Lead Emerging World On Climate Commitments

June 28, 2022

Recent News

Road Sanity Bonanza: Nigerians To Be Rewarded For Good Driving

Road Sanity Bonanza: Nigerians To Be Rewarded For Good Driving

July 5, 2022
Inflation To Drive Insurance Protection Gap To New High In 2022: Swiss Re

Inflation To Drive Insurance Protection Gap To New High In 2022: Swiss Re

July 1, 2022
Nigeria’s Babajide-Agbeja Takes The Helm At Africa Insurance Brokers Association

Nigeria’s Babajide-Agbeja Takes The Helm At Africa Insurance Brokers Association

June 30, 2022
Africa And Asia Lead Emerging World On Climate Commitments

Africa And Asia Lead Emerging World On Climate Commitments

June 28, 2022
AIO President Says Africa Low Insurance Penetration Is A Challenge To Overcome

AIO President Says Africa Low Insurance Penetration Is A Challenge To Overcome

June 28, 2022
NAICOM Regulation Stirs Clear Of Wild Spin Focuses On Mid-Point With Policyholders And Operators

National Insurance Commission Decommissions Standard Alliance Plc And Niger Insurance Plc

July 1, 2022
AM Best Upticks AIOs Strategic Initiatives

AM Best Upticks AIOs Strategic Initiatives

June 27, 2022
STI Pools Sport Laurels At NCRIB Maiden Lawn Tennis Tournament

STI Pools Sport Laurels At NCRIB Maiden Lawn Tennis Tournament

June 27, 2022
M&A

Merger & Acquisition Transactions Exceed £815bn In 2021

June 24, 2022
Enforcement Of Compulsory Insurances: Abuja Leads States Follow

Enforcement Of Compulsory Insurances: Abuja Leads States Follow

June 27, 2022
Preferred PenCom Logo

Q1 2022: RSA Transfer System Dips, Improving PFA operations Make Early Call

June 22, 2022
Universal Insurance Clinches 2022 Excellence In General Insurance Leadership Award

Universal Insurance Clinches 2022 Excellence In General Insurance Leadership Award

June 22, 2022
Ag PenCom DG

Capacity Building: PenCom X-rays CPS To States With Varied Low Dimensions On Start-Up

June 20, 2022
Image Spin: Financial Inclusion Engaged On All Fronts

NAICOM, Other Regulators Tell Nigeria’s Financially Excluded That Micro Policies Are Lifters And Soft Landing For Their Risks

June 19, 2022
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel

Recent News

Road Sanity Bonanza: Nigerians To Be Rewarded For Good Driving

Road Sanity Bonanza: Nigerians To Be Rewarded For Good Driving

July 5, 2022
Inflation To Drive Insurance Protection Gap To New High In 2022: Swiss Re

Inflation To Drive Insurance Protection Gap To New High In 2022: Swiss Re

July 1, 2022
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2020 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2020 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In