Weather changes - Decreased insurance claims in Saxony linked to severe weather occurrences
In terms of statistics, out of every 1000 police stations in Free State, there were around 11 incidents of storm and hail damage (2022: 27.6). This figure placed Saxony below the countrywide average of 18.5 reported cases. Despite this, instances of storm and flood damage increased from 3.6 to 5.3 per 1000 insurance contracts.
Nationally, Germany's Insurance Association investigated damages caused by storm, hail, and heavy rain in 2023, amounting to 5.7 billion euros. This sum was a striking 1.7 billion euros higher than the previous year's total. Asmussen, the Managing Director of the association in Berlin, attributed the substantial cost to the destructive impact of hail on vehicles. The previous record for such widespread damage stood at 13.9 billion euros, set in 2021.
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The General Association of the German Insurance Industry noted a decrease in insurance claims related to storms in Saxony, potentially linked to less severe weather occurrences. This trend contrasts with the increase in storm and flood damage reported in insurance claims, leading to a rise from 3.6 to 5.3 incidents per 1000 insurance contracts. Despite fewer overall weather-related incidents, the financial impact of severe storms, such as floods and hail, has led to higher insurance claims in Dresden and other parts of Saxony. Climate experts predict that extreme weather events, including heavy rain and flooding, will become more common in the future, posing a significant challenge for the insurance industry. As a result, many individuals and businesses in Saxony are taking steps to protect their real estate from the impact of extreme weather, including installing flood defenses and improving drainage systems. The increased frequency of extreme weather events is also having an impact on traffic in Dresden and other cities in Saxony, with road closures and disruptions becoming more common during heavy rain and flooding.
Source: www.stern.de
