RMS Estimates Insured Losses from Windstorm Niklas Will Range between 750 Million to 1.5 Billion Euro
Germany to account for 75 percent of total loss
NEWARK, Calif. -
April 20, 2015 -
RMS, the world’s leading catastrophe risk management firm, estimates that insured property losses from Windstorm Niklas will fall between 750 million and 1.5 billion euro. Losses in Germany will account for around three quarters of the total loss.
The loss estimate is based on hazard reconstruction using the recently released version 15.0 RMS® Europe Windstorm Models. 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 estimate includes damage to property, auto, forestry, agriculture and direct business interruption but excludes losses from damage to infrastructure. RMS expects no post-event loss amplification and anticipates low business interruption losses. Losses from auto are not expected to exceed more than five percent of the total loss.
“RMS releases loss estimates only after we have gathered enough information to make an informed assessment," said Brian Owens, senior director, model product strategy at RMS. “By conducting thorough ground reconnaissance we feed valuable insight into detailed modeling analysis of the event to produce a reliable loss estimate for our clients."
Experts on windstorms and catastrophe risk management are available for comment by contacting email@example.com.
RMS models and software help financial institutions and public agencies evaluate and manage catastrophe risks throughout the world, promoting resilient societies and a sustainable global economy.