Reinsurance company Willis Re has estimated that summer hailstorms across Europe will cost insurance companies an estimated $4.47 billion—making it the most severe season of hail since 1984, when a hailstorm caused major damage across the city of Munich, Germany. French insurance company SCOR previously estimated the summer’s hailstorm damage at $3 billion.
The hailstorms took place between June 17 and August 6, in three distinct clusters:
- Between June 17 and June 21, Manni, Norbert, and Othello struck.
- Between July 25 and July 30, Andreas, Bernd, and Christian struck.
- Between August 2 and August 4, Dick, Ernst, and Franz struck.
Of these storms, Andreas was the most destructive, causing an estimated $2 billion in insured losses in Germany alone. France was also hit hard by hail, with many grape harvests in vineyards across the country affected by the storms.
Experts say that this summer’s hail events drive home the point that hail losses can have a significant affect on insurance companies. Severe flooding across central Europe only adds to the loss, with events affecting insurance companies and reinsurance companies across the globe.
Hail causes billions of dollars in damage across the world each year, even when large clusters of storms don’t take place. If your property, home, or business has been damaged by hail, your insurance policy may cover repairs. To learn more about your hail damage insurance claim, contact Voss Law Firm to discuss your case and make certain you get what you deserve. Call today to schedule a free, private meeting with a property insurance claim attorney: 888-614-7730.