Hurricane of Hail: Insurers see Record 350 Million Euros in Damages from 20-Year High Hailstorms
record-breaking storm damage reported by insurance firms in past two decades
Germany witnessed a massive hit by hailstorms last year, prompting insurance companies to fork out a staggering 350 million euros in claim payments for damaged roofs, lightning-damaged computers, and other related damages. This is the highest amount in two decades, reported the General German Insurance Association (GDV) on Monday. Over 220,000 claims were filed - that's one claim every 2.5 minutes!
In 2023, insurers had to pay out approximately 300 million euros for 220,000 lightning and surge damage claims, a figure last seen in 2002 and 2003.
The increasing trend of significant claims is a cause for concern. Insurers paid an average of 1,600 euros per claim in 2024, a jump of around 200 euros compared to the previous year. As GDV CEO Jörg Asmussen explained, the hike is due to buildings becoming more expensive and well-equipped.
Amid the hailstorm chaos, almost 210,000 ground strikes were recorded in Germany in 2024, slightly more than the roughly 195,000 recorded in 2023. Approximately two-thirds of all lightning is what we call cloud-to-ground lightning.
June 2024 was the month that saw the highest number of lightning strikes, with approximately 62,000 recorded. Thunderstorms are more prevalent during the summer due to high humidity and heat. When warm air cools, it triggers thunderstorm clouds to form.
Climate change has a significant role to play in the rise of severe weather events. The increase in hailstorms, thunderstorms, and the subsequent damage is a clear symptom of this climate change-induced weather trend. The susceptibility of modern infrastructure and technology to surge damage from lightning strikes and electrical fluctuations only adds to the problem.
Source: ntv.de, AFP
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- Considering the rising costs of hail-related damages, it may be necessary for the community to revise its policy on insurance coverage for severe weather events, such as hailstorms, during the financial year.
- To mitigate the impacts of climate-change-induced extreme weather events like hailstorms, it is essential to invest in environmental science and research to understand the effects of thermal fluctuations on weather patterns and develop strategies for climate resilience, particularly in finance and infrastructure sectors.
