A new study from Munich Re indicates even higher possible wind speeds than those recorded in December 1999, when three severe gales, Anatol, Lothar, and Martin, cost the insurance industry over €10bn (£6.3bn).
Munich Re has called for a reassessment of potential losses from European windstorms.
The German reinsurer said a new study indicated even higher possible wind speeds than those recorded in December 1999, when three severe gales, Anatol, Lothar, and Martin, cost the insurance industry over €10bn (£6.3bn).
Prior to 1999, the record cost from a gale had been €120m (£75m) in Denmark in 1981.
Munich Re said these new magnitudes reflected not only the enormous concentration of values and the high insurance density in Europe but also the exceptional strength of the gales.
The company's study involved analysing comprehensive meteorological and insurance-related data and also included a reassessment of the correlation between wind speed and loss intensity.
It said even higher wind speeds than those recorded in 1999 should be assumed when estimating future probable maximum losses.
The study, titled "Winter storms in Europe (II) - Analysis of 1999 losses - Loss potentials", also considers the influence of global warming on the occurrence probability of windstorm events and extreme wind speeds in Europe.
The publication is available from Munich Re's website at www.munichre.com.
