Munich Re’s assessment of 2013 Cat Losses specializes in weather-associated activities

In its annual evaluation of loss activities inside the beyond year, Munich Re emphasized the “extraordinarily excessive losses from weather-associated catastrophes in Europe and Supertyphoon Haiyan,” which, the file stated, “ruled the general picture of natural catastrophes in 2013.

“Floods and hailstorms triggered double-digit billion-greenback losses in primary Europe, and in the Philippines one of the strongest cyclones in history, Supertyphoon Haiyan, led to a human catastrophe with over 6,000 fatalities.”

notwithstanding the fierce weather, but, Munich Re indicated that loss figures from natural catastrophes in 2013 were “relatively extra moderate.” Direct universal losses have been round $a hundred twenty five billion and insured losses had been around $31 billion, which, “remained beneath the common figures of the past ten years ($184 billion and $56 billion).

“sadly, in a total of 880 natural catastrophes (common of the past ten years: 790), more than 20,000 people have been killed. This meant that the death toll was better than in 2012, however significantly underneath the common of the beyond ten years (106,000).”

Torsten Jeworrek, Munich Re Board member chargeable for worldwide reinsurance enterprise stated: “numerous of the activities of 2013 illustrated how nicely warnings and loss minimization measures can limit the impact of natural catastrophes. within the case of the maximum current iciness storms in Europe, as an example, the losses remained relatively low.

“on the equal time, events like those in the Philippines show the urgent need for more to be executed in growing and emerging countries to shield humans higher. This includes extra strong buildings and safety facilities, and insurance programs – additionally with country backing – to provide the ones affected with economic assistance after a catastrophe.”

Loss figures for Europe have been particularly from floods, which have been the “yr’s most expensive catastrophe. the most costly herbal disaster of the 12 months in terms of average monetary losses was the flooding in southern and eastern Germany and the neighboring states at the start of June. normal losses totaled $15.2 billion (€eleven.7 billion), even as insured losses came to $3 billion (€2.3 billion).”

Peter Höppe, Head of Geo risks studies at Munich Re, observed: “The 2013 floods showed that flood control can paintings. in spite of everything, the parameters which include length and quantity of rainfall might have led one to anticipate even extra extreme flooding than in 2002. nevertheless, it additionally tested that flood manipulate has to cowl the whole course of a river and can't simply include dykes. Rivers need area to spread out when there are floods, so that those residing downstream are not hit even tougher whilst shielding measures are taken inside the higher reaches. This calls for efforts comprising the complete catchment vicinity of a river, which consequently often need to be across the world coordinated.”

Munich Re additionally noted the “precautionary measures” as having “proved their well worth in numerous other weather-associated natural catastrophes in Europe. Losses from Windstorm Christian in autumn and winter hurricane Xaver have been comparatively low, despite the fact that each swept over the United Kingdom, the Benelux states, northern Germany and Denmark with wind speeds every so often exceeding one hundred fifty km/h [93 mph]. Xaver and Christian each brought about universal losses at some stage in Europe inside the low unmarried-digit billion range.

Hailstorms in Germany, but, brought about the very best insured losses in keeping with the document. They resulted from a “squall line with hailstorms that hit some areas in northern and southwestern Germany among 27 and 28 July. at the equal time, this squall line was additionally the coverage enterpriseʼs most highly-priced hail occasion in German history. one of the hailstones observed changed into 14 centimeters [app.51/2 inches] in diameter – a file for Germany.

“The hailstones broken severa automobiles, building façades, roofs and sun installations. The hail did precise harm to buildings with thermal insulation, ruining the exterior end in a few instances. typical, the loss from heavy hailstorms in July and August in Germany totaled round $5.2 billion (€3.9 billion), of which $four.1 billion (€three.1 billion) was insured.

The hailstorms in overdue July by myself accounted for $four.8 billion (€three.6 billion) of the overall loss, and $3.7 billion (€2.eight billion) of the insured loss.”

The most extreme catastrophe in human phrases turned into due to Supertyphoon Haiyan, likely the most powerful tropical storm ever to make landfall. It ravaged the southern Philippines on November 7 with maximum wind speeds of well over 300 km/h [186 mph]. as a result of the extreme wind the flood wave it created of up to 6meters [over 18 feet] in top, “many settlements just like the coastal city of Tacloban were razed nearly to the ground.

“Over 6,000 humans were killed within the typhoon, and thousands and thousands had been left homeless. 

The harvest on this good sized agricultural area, with vast sugar cane cultivation, became in large part destroyed. the overall loss totaled a few $10 billion, equivalent to around five percentage of the Philippines annual economic output.” The Philippines, however, has “very low insurance penetration,” as a end result Munich Re said the “insured loss will likely simplest be in the mid three-digit million range.” The document described the 2013 storm season within the Pacific as “above common in phrases of pastime, with 31 named storms.”

That’s in stark assessment to the North Atlantic hurricane season, which Munich Re defined as “very quiet. no longer a unmarried hurricane of typhoon strength reached the us mainland.”

The U.S. did, but, suffer some critical climate occasions. The maximum serious herbal disaster “changed into brought approximately with the aid of a squall line with a chain of very severe tornadoes within the country of Oklahoma. On 21 may, a twister of the very best category (5), with wind speeds of over 300 km/h [186 mph], devastated the suburb of Moore. here by myself, around 10,000 homes were damaged or destroyed. The loss resulting from the squall line as an entire amounted to $3.1 billion, of which $1.8 billion turned into insured.

“Canada turned into additionally hit by means of severe herbal catastrophes in 2013. strangely heavy rainfall inside the province of Alberta of up to one hundred ninety liters [50 gallons] in line with square meter [10.76 square feet] in at some point coincided with past due snowmelt. This brought about report flooding at the rivers flowing via the provinceʼs capital of Calgary – the Bow River and Elbow River. The economic loss amounted to US$five.7 billion, of which nearly US$1.6 billion changed into insured, making it the most expensive herbal catastrophe in Canada ever.”