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Article: Climate change seen boosting European winter storms, damage; Swiss Re analysis examines long-term effects through 2085.(International News)
- Article from:
- Business Insurance
- Article date:
- January 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: RICHARD MILLER
While the threat of severe winter storms in Europe is expected to be low this season, some experts believe that climate change will lead to more frequent and intense winter storms, causing increased damage in the long term.
A recent Swiss Reinsurance Co. report on the impact of climate change on winter storms estimates that claims will increase by 16% to 68% by 2085.
Major storms that are currently viewed as 1-in-100-year events may become 60- or 70-year events in the decades to come, Swiss Re reported. Awareness of the exposure has put pressure on the natural catastrophe insurance market in Europe, said Brian Gray, head ...