According to estimates by experts, the severe storms in Germany, Austria and Switzerland in the past ten days will cost insurers more than 2.5 billion euros. (Archive image)
This is what actuary Onnen Siems, managing director of the consulting company Meyerthole Siems Kohlruss (MSK) said on Thursday in Cologne: “More than half of the damage occurred in Germany, mainly in the auto insurance division.” The low “Xero” caused hail damage mainly in Switzerland, while in southern Germany there were floods. Siems estimates the damage from this at half a billion euros.
Last Monday alone, the hailstorms caused damage of at least 260 million francs in Switzerland, according to figures from the insurance companies Axa, Allianz Suisse, Mobiliar and Schweizer Hagel as well as several building insurance companies. Last week, insurance companies had already reported losses of over 260 million francs after recurring storms.
For comparison: According to data from the industry association GDV, insurers in Germany had to pay 1.95 billion euros for the consequences of natural hazards such as storms, hail and floods throughout 2020.
Siems brings the accumulation of storms in connection with climate change. June was – after 2003 and 2019 – the third warmest since weather records began in 1881. On average, it is 2.6 degrees warmer than the average for the past 30 years. The warm, humid air discharged in thunderstorms with lightning, heavy rain, storms and hail. “There is a connection between insurance claims and climate change,” said the actuary.