Unsettled Weather: A Tempest Looms Ahead - Multitudes of euros from storm insurance reimbursements
Severe weather cost insurers an estimated 544 million euros in North Rhine-Westphalia during the past year, according to the Association of German Insurers. This figure is a decrease from the previous year, when 800 million euros were spent on handling storms, hail, and other natural disasters like floods. Compared to 2023, weather conditions in 2022 had a far greater impact. In North Rhine-Westphalia, 13.6% of 1,000 home insurance policies were affected by storm and hail damage, a drop from 43.5% in 2022. For car insurance, the value was 3.2%, down from 4.1% in the previous year. In contrast, other federal states, such as Bavaria and Hesse, experienced a significant increase in natural disasters, particularly in terms of random showers of ice.
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- Despite the decrease in storm-related insurance payouts in North Rhine-Westphalia, the region experienced significant car and home traffic disruptions due to flooding caused by the extreme weather.
- The real estate market in Berlin has seen a slight increase in demand, possibly as a result of people seeking safer living areas in the face of increasing extreme weather events, such as storms and flooding, in North Rhine-Westphalia.
- The Association of German Insurers is urging North Rhine-Westphalia's government and car manufacturers to invest in advanced weather monitoring systems and develop more climate-resilient vehicles to prepare for future storms and flooding incidents.
- In a recent survey, 75% of North Rhine-Westphalia residents reported feeling concerned about the impact of extreme weather events on their daily commutes, with many expressing a preference for carpooling or public transportation as a safer alternative.
- In North Rhine-Westphalia, insurance companies are offering special flood protection policies for real estate owners, emphasizing the importance of anticipating and preparing for future weather-related disasters.
Source: www.stern.de
