When a hail event lasting just minutes hit southern Germany on July 28, 2013, it generated a US$3.9 billion insured loss. Some 80,000 buildings and tens of thousands of automobiles were damaged — many severely. Such a high hail loss was unprecedented in Europe. It was this event that represented the wake-up call for the insurance and reinsurance industry to think harder about the risk due to severe convective storms.
I had the privilege to lead my team of seven modelers from RMS as we attended the ninth European Conference on Severe Storms (ECSS) which took place between September 18-22 this year in Pula, Croatia. This biannual conference sees hundreds of scientists predominantly from Europe and the U.S. but also from other parts of the world. Hail was prominent on the event agenda among the scientific community, and with rising interest in hail damage there is now also a considerable participation from the reinsurance industry. Munich Re is the main sponsor of the conference.