According to the Latvian Insurers Association (LAA), by October 22, insurers had received 8,211 claims for damages caused by the August storm, of which 84% had already been settled.

In total, EUR 9.7 million have been paid out so far, while another EUR 4.1 million have been reserved for other claims. Although insurers estimate that this storm in terms of losses so far looks lighter than the previous one, companies need to strengthen their preparedness for power outages.

Since September 21, the proportion of claims settled has increased from 62% to 84%. During this time, the total number of claims has increased by 5%, while the number of claims settled has increased by 42%, reaching 6,876. The total amount of claims paid and reserved is EUR 13.84 million.

Although the August 2026 storm was more destructive than the July 2024 storm, its insured losses are not yet as large as in previous storms. LAA President Jānis Abāšins emphasized that each storm highlights different risks and provides lessons that should be considered when preparing for the next one.

“Previous storms raised the issue of infrastructure readiness for heavy rainfall and the need to review outdated building codes. The August storm, in turn, can be called an “electricity storm”, which clearly highlights how important it is for companies to be prepared for power outages”, said Jānis Abāšins. “The experience of recent years shows that preparedness for devastating storms must be perceived as a constant necessity”, he added.