Natural catastrophe exposure and event loss data provider PERILS has released its fourth and final loss estimate for Dragi-Eberhard, the largest windstorm of the European extratropical cyclone season in 2018/2019.
Based on loss data collected from affected insurers, PERILS’ final estimate of the insured property market loss for the March 2019 event stood at €782 million (around £681 million). In its loss report, PERILS makes the data available by CRESTA (Catastrophe Risk Evaluating and Standardising Target Accumulations) zone and property line of business for all affected countries.
Belgium, France, and Germany witnessed the majority of losses while the UK, the Netherlands, Luxembourg, and Switzerland were hit to a lesser degree.
“Low-pressure system Dragi struck on March 09, 2019 and was immediately followed by Eberhard on March 10,” noted PERILS. “Both systems were named by the Free University of Berlin. Dragi was the weaker of the two systems, affecting mainly parts of Belgium, Northern Germany, Poland, and northern parts of the Czech Republic, with gusts exceeding 100km/h only in elevated areas.
“Eberhard struck the British Isles early on March 10, 2019 and continued to move over an area that spanned France, the Benelux countries, Germany, and Eastern Europe. The resulting industry loss represented the largest windstorm loss of the 2018/2019 European extratropical cyclone season.”
