Reinsurance News

EuroTempest extends flood alert service to Germany

25th October 2022 - Author: Kane Wells

EuroTempest, a leading provider of European storm and weather risk management services to the re/insurance market, has announced the extension of its flood alerting and dashboard service to Germany, enabling insurers and operational teams across the country to better prepare for and respond to major flood events.

germany-flagThe extension of the service to Germany comes after the country suffered the costliest European natural disaster ever recorded last year.

2021’s Storm Bernd is estimated to have caused over $40bn in flood damages across large areas of Western Germany, Eastern Belgium and the Netherlands. For Q3 of 2021, global reinsurance giant Munich Re announced losses of roughly €600m.

EuroTempest’s Commercial Director, Nick Wood, commented, “As the climate becomes warmer, extreme rainfall across most regions will become increasingly common, as well as flash flooding in built-up areas. Storm Bernd was a prime example of this, devastating areas of Germany in a way never seen before in Europe.

“With this in mind, we’re delighted to be able to offer our award-winning flood dashboard service to the German market, helping insurers properly prepare for potential storm and flood risk.”

Tremor - The modern way to place reinsurance

The Flood Alerting and Dashboard service provides (re)insurance claims teams and supply chains with advance notice of the scale, location and timing of severe flooding, says EuroTempest.

It also brings together all the information needed for users to form a view and make decisions, as well as providing easy one-stop access to live forecasts of river and flash flood risk at the catchment level.

Print Friendly, PDF & Email

Recent Reinsurance News