Climate change could increase storm damage by over €260 million a year: Insurers

Increasingly severe storms due to climate change means increasing storm damage, and the damage counter is rising faster than expected, according to an analysis by the Dutch association of insurers. In the worst case scenario, storm damage will increase by over 260 million euros annually, compared to the current situation, the association calculates, RTL Nieuws reports.

The Center for Insurance Statistics based its calculation on meteorological institute KNMI's latest climate scenarios. The reason for this calculation, was a severe hail storm that hit Noord-Brabant and Limburg on June 23rd last year. A massive 100 thousand damage claims, totaling in around 500 million euros, were filed after the hail storm. That is the biggest natural damage in the Netherlands to date, according to RTL.

Insurers are calling on the new Dutch government to take action. They want the government and interest organizations to work together to make sure that climate risks remain manageable. The association also wants a collective insurance for flood damage, which is not covered by most insurance.