PERILS Estimates Windstorm Dirk Insured Losses at $371 Million

PERILS, the independent Zurich-based totally agency offering enterprise-wide catastrophe coverage data, introduced that its initial insured property loss estimate for windstorm Dirk, which affected the United Kingdom and France from December 23rd to 25th, 2013, is €275 million [$371 million].

PERILS stated the “majority of the losses passed off in Southern England inside the united kingdom and in Brittany and Normandy in France. PERILS’ market loss estimate is based totally on final gross loss statistics as reported by way of primary coverage businesses and excludes losses indemnified with the aid of government schemes inclusive of ‘CatNat’ in France.”

in step with the PERILS reporting agenda, an up to date estimate of the Dirk marketplace loss might be made available through the 23rd of March 2014, three months after the event start date.

PERILS added the following synopsis for the hurricane: “The Dirk despair fashioned over Newfoundland on 22 December 2013. It reached Western Europe on 23 December, wherein the primary sturdy gusts had been recorded in ireland that afternoon.

“On Christmas Eve, the machine reached its minimal pressure over land with a recorded 937mb at Stornoway, Isle of Lewis, off the north-west coast of Scotland. This became the bottom recorded cost within the British Isles seeing that 1886.

“From there, the system slowly moved in a north-easterly path in the direction of northern Norway. steadily the depression started out to fill, before in the end dissipating on 27 December. the best wind speeds happened in the uk and in France wherein storm surge and heavy precipitation accompanying the storm caused localized flooding.”