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Article: European storm losses could exceed $1 billion; Klaus destruction the worst since a trio of 1999 winter storms.(News)
- Article from:
- Business Insurance
- Article date:
- February 2, 2009
- Author:
CopyrightCOPYRIGHT 2009 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: SARAH VEYSEY
Insured losses from winter storm Klaus, which ripped through parts of France and Spain late last month, could be in the billions of dollars, according to preliminary estimates.
The strong extratropical cyclone came ashore in southwestern France and traveled across northern Spain Jan. 24 and 25. The storm left widespread destruction, including damage to buildings, power outages and flooding. It also disrupted travel.
Klaus, packing winds as high as 194 kilometers per hour (120 mph), reportedly killed more than 20 people.
Catastrophe modeling firm EQECAT Inc. said its initial estimate of insured losses in France ...