Free Trial Corporate Access
Reactions Copying and distributing are prohibited without permission of the publisher

Floods dominated 2013 nat cat losses

01 April 2014

Protective measures can drastically reduce flood losses with mitigation measures cutting German flood losses from €17bn in 2002 to €11.7bn in 2013, Munich Re reported.

Read more: Flood Munich Re nat cats mitigation prevention

Flood-related losses made up 37% of the world’s overall natural catastrophe losses last year, a leap up from the 22% average for the period since 1980.

The floods that submerged Germany and central Europe in June 2013 caused overall losses of €11.7bn and insured losses of €2.4bn, which was the year's costliest natural catastrophe anywhere in the world.

The Elbe floods of 2002, however, caused losses totalling €17bn is said in Munich Re’s latest publication "Topics GEO – Natural catastrophes 2013".

The lower claims bill in 2013 is partly because of to the type of rainfall involved, said Munich Re.

The rainfall’s lower intensity in the Elbe catchment area in 2013 triggered fewer flash floods and consequently caused less damage to infrastructure such as roads and bridges.

The Danube catchment, on the other hand, was much more...

25 Mar 2015
In this week's Reactions the Review
Kizuna Re II grows, gets high rating
New Solvency II statement from PRA
Catastrophes hit Allstate in Feb
Rims urges US Treasury

View this issue

For more catastrophe reports, data and news, click through to the RMS/Reactions Catastrophe Centre.