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PERILS Raises Insured Loss Estimate for Germany-Austria’s Cyclone Herwart
PERILS AG has raised the loss estimate for windstorm Herwart which hit Austria and Germany on Oct. 29, 2017 to €255 million ($316.9 million).
This compares to the initial loss estimate of €252 million ($313.2 million) which was issued on Dec. 11 by PERILS, which is the independent Zurich-based organization that provides industry-wide catastrophe insurance data.
In line with the PERILS loss reporting schedule, the third loss estimate for Herwart will be released on 29 April 2018, six months after the event. This estimate and following loss estimates will be provided in full resolution, i.e. by CRESTA zone and by property lines of business.
Subscribers to the PERILS Industry Exposure & Loss Database can find more information about Herwart in the PERILS Portal under “Industry Loss.”