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Revealed: Final insured loss estimate for Cyclone Eleanor

Revealed: Final insured loss estimate for Cyclone Eleanor | Insurance Business

Revealed: Final insured loss estimate for Cyclone Eleanor

It’s been a year since extratropical cyclone Burglind, also known as Eleanor in the UK, hit the British Isles and the European continent. Now PERILS, which provides industry-wide catastrophe insurance data, has released its final insured loss estimate.

Based on loss figures collected from affected insurers, the independent Zurich-based organisation pegged the insured property market loss from the January 02-03, 2018 event at €756 million. The countries impacted the most were France, Germany, and Switzerland.  

“Relative to its size, Switzerland was the country most affected by the event, with more than two thirds of the country-wide insured values exposed to gust speeds in excess of 100km/h,” noted PERILS.

Its market loss data are available by CRESTA (Catastrophe Risk Evaluating and Standardising Target Accumulations) zone and property line of business. The loss footprint information is also complemented by gust speed values and loss ratios showing the incurred loss as a percentage of the sums insured.

Named “Burglind” by the Free University of Berlin, the low-pressure system associated with the storm was called “Eleanor” by the Irish and UK national weather services.