Loss analysis of hail event "Volker"
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In June 2021 there was a special weather situation in Europe, which caused an extraordinary number of thunderstorms. The storms caused by the area of low pressure "Volker", which swept over southern Germany and Austria from 20 to 24 June 2021, were particularly devastating. Heavy gusts of wind and hailstones up to 7 cm in diameter caused significant damage to vehicles and buildings.
Major hail events have long been one of the more frequent natural disasters in Europe, especially in hot summers. The question therefore arises as to whether climate change is causing more frequent and intense hailstorms. The answer to this question is essential for the insurance industry. Assessing and understanding risks is one of the core tasks of an insurer, especially since they change over time. So, knowledge and understanding of the past only help to a certain extent when assessing the dangers of the future.
This analysis of the "Volker" hail event summarises the latest findings on this incident. It is important to draw the right conclusions from this together in order to be able to offer our customers and partners the right protection at the right price.
Focus of the report:
- General loss information divided by division and insurance type
- Analysis of insured values and loss rates
- Results of the evaluation of losses with regard to the risk locations and flood zones/hail intensity. Only those losses that contained exact location information could be included in the analysis.