January 8, 2003 by Canadian Underwriter
Windstorm Calvann, which swept across France and Germany late last week, has produced Eur900 million in insured damages (Cdn$1.47 billion), according to preliminary estimates from Risk Management Solutions Inc.
The California-based catastrophe risk management solutions provider says the January 2 storm affected almost the same territory as that devastated by 1999’s Windstorm Lothar, for which RMS tallies losses at about US$5 billion (Cdn$7.8 billion).
“The similarities in the footprints of the two storms means that the eventual losses should test how well the roof repairs were made after Lothar,” says Dr. Barbara Page, manager of the RMS Europe Windstorm model.
Calvann brought windspeeds of 65-70 mph (100-110 km/h), even as high as 80 mph (125 km/h). Trees were felled, property damaged and roads blocked during the storm.
RMS predicts insured losses will be spread evenly between France and Germany.