PERILS puts initial loss estimate for Herwart at EUR 252 million

14 December 2017 — Daniela GHETU
PERILS' initial estimate of the insured property market loss for Herwart, , which among other countries affected Austria and Germany on 29 October 2017, based on loss data from affected insurers, is EUR 252 million.

In line with the PERILS reporting schedule, an updated estimate will be made available on 29 January 2018, three months after the event start date.

Herwart caused significant damage in Austria and Germany on 29 October 2017. The storm also affected Denmark, but to a much lesser extent; as well as Poland, the Czech Republic and Slovakia - although these three territories are not covered by PERILS.

In Germany, Herwart caused strong gusts in Northern and Eastern Germany in the first half of the day. The rapid passage of the extratropical cyclone meant that the extreme winds only lasted for two to three hours. The highest gust value was 176 km/h, which was recorded on the Fichtelberg in East Germany (Saxony).

Extratropical Cyclone Herwart, maximum gust values in km/h: Herwart struck Germany and then Austria on 29 October 2017 with violent gusts of up to 180km/h. Herwart caused a total of 11 fatalities - one in Denmark, four in Germany, two in Poland and four in the Czech Republic.

Austria was hit by Herwart during the late morning and early afternoon. Strong gusts mainly affected the eastern half of the country, including the states of Upper and Lower Austria, Vienna, Salzburg, Styria and Burgenland. The highest gust was measured at 180 km/h on the Feuerkogel Mountain (Upper Austria, 1618 m a.s.l.).

PERILS is an independent Zurich-based organisation providing industry-wide natural catastrophe exposure and event loss data.

The PERILS Industry Exposure & Loss contains industry property sums insured and event loss information on a CRESTA zone level and per property line of business. PERILS industry loss estimates provided via the PERILS Industry Loss Index Service can be used as triggers in insurance risk transactions such as industry loss warranty contracts (ILW) or insurance-linked securities (ILS). The service currently covers the following 16 countries.

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