Catastrophe risk modeling company AIR Worldwide Corporation estimates insured losses from Winter Storm Kyrill will be between €4 billion and €8 billion ($5.2 billion - $10.4 billion). The storm struck Europe with hurricane-force winds over the course of two days, causing significant travel and power disruptions, flooding, and building damage over a large part of Europe including the United Kingdom, France, the Netherlands and Germany.
"Winter Storm Kyrill is the worst storm to hit Europe in eight years, said Dr. Peter Dailey, Director of Atmospheric Science for research and modeling at AIR Worldwide. "Kyrill produced winds in many parts of Europe that were strong enough to produce moderate levels of damage.
Winter Storm Kyrill winds were first felt on January 18th with maximum reported wind gusts of 137 kph in populated areas. Severe gale force winds uprooted trees, tore off roof tiles, and blew doors off buildings while freight trucks in England and Germany were tipped over by wind gusts. Flying debris, including falling tree limbs and billboards, caused significant building damage throughout the affected countries, smashing windows and damaging walls.
Upwards of one million customers in Poland and the Czech Republic; 100,000 in northern France; 15,000 in Austria; and hundreds of thousands in the UK and Germany are without power. Widespread flooding has also been reported in coastal and low-lying parts of Germany, including parts of Berlin. As is common following strong extratropical cyclones, cold air is now funneling into Europe causing temperatures to plummet.
"What was most notable about this event was its unusually large foot print, continued Dr. Dailey. "The path of damaging winds extends north to south from Scotland to Switzerland and east to west from France to eastern Germany and beyond.
Using its Numerical Weather Prediction (NWP)-based Extratropical Cyclone Model for Europe, the AIR estimate includes insured losses from damaging wind to onshore properties.
About AIR Worldwide Corporation
AIR Worldwide Corporation (AIR) is a leading risk modeling company helping clients manage the financial impact of catastrophes and weather. Utilizing the latest science and technology, AIR models natural catastrophes in more than 40 countries and the risk from terrorism in the United States. Other areas of expertise include site-specific seismic engineering analysis, catastrophe bonds, and property replacement cost valuation. An ISO business, AIR was founded in 1987 to provide its insurance, reinsurance, corporate, and government clients a complete line of risk modeling software and consulting services that produce consistent and reliable results. Headquartered in Boston, AIR has additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com.