Storm Joachim May Cost Insurers 300 Million Euros, Perils Says
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Property insurers may face 300 million euros ($390 million) in costs from windstorm Joachim, which hit northern France, Germany and Switzerland in December, according to data provider Perils AG.
“The majority of the losses occurred in France,” Zurich-based Perils, an insurance industry initiative founded in 2009 to aggregate European data on natural-disaster losses, said in an e-mailed statement today.