Moody’s RMS estimates insured Windstorm Ciarán losses at up to £1.3bn

Risk modelling specialist Moody’s RMS has estimated insured losses from Windstorm Ciarán of £0.8bn to £1.3bn. In addition to the UK and the Channel Islands, the storm affected Belgium, Germany and the Netherlands.

Giovanni Leoncini, senior product manager for Europe Windstorm Models at Moody’s RMS, said: “Windstorm Ciaràn can be thought of, as a weaker sibling of 87J, the Great Storm of 1987, which severely affected the United Kingdom and Northwest France in October 1987.”

He added: “Despite the recent period of windstorm activity, the destruction now brought by Ciaràn reminds us of the importance of extra tropical cyclones for the re/insurance industry.”

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