European storm succession likely rendered up to €5bn in insured losses, says Verisk
Insured losses due to wind from Winter Storms Dudley/Ylenia and Eunice/Zeynep will tally between €3 billion and €5 billion, of which the majority will come from Germany, UK, and the Netherlands, according to estimates from Verisk Extreme Event Solutions (formerly AIR Worldwide).
The estimates, covering wind damage in residential, commercial, industrial, and agricultural properties, as well as auto, have jacked up neighborhood 10-15% above modeled costs on account of inflation in materials and repair costs, Verisk said.
Europe has now suffered a 1-2-3 punch from Dudley/Ylenia to Eunice/Zeynep and now the lesser Franklin/Antonia. "Rapid succession of two or more low pressure systems within a short time frame is not an unusual event in Europe," Verisk claimed, citing notable examples from 1990, 1999, 2015 and 2019.
“After Storm Dudley/Ylenia menaced parts of the UK and Northern Europe February 16 and 17 with high winds, an even stronger Storm Eunice/Zeynep swept in to cause damage in the region February 18 to 20,” said Dr. Marc Marcella, principal scientist at Verisk. “In the wake of Dudley/Ylenia, Storm Eunice/Zeynep brought more high winds, leading to widespread reports of wind damage to homes and businesses in the UK and continental Europe."
Damage due to coastal flooding was relatively insignificant for this event, although high water levels and storm surge inundation were experienced in several locations, in particular along the German North Sea coastline, and near river mouths, where surge levels approached 3 meters, Verisk noted.
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