The damage caused by extreme weather will amount to more than 886 million euros in 2022, the highest amount of insured damage since 2007. This is evident from the annual Climate Damage Monitor of the Dutch Association of Insurers. The monitor shows damage caused by lightning, hail, precipitation, flooding, frost and storms from 2007 to 2022.
Allianz Partners' annual Global Travel Summit predicts three key trends that promise a turbulent 2023 for the travel market: increased demand for travel insurance, increased economic and geopolitical turmoil, and higher customer expectations.
Insurers are working on a solution for compensation for damage if a large river such as the Meuse river crosses the dikes. Or in an even worse scenario: if the seawalls fail. A so-called public-private international reinsurance pool is envisaged in which reinsurers also share in the risk of damage. The Association will further develop this construction together with the industry in the coming year, according to the Members' Meeting of the Association.
The Association in Europe
Many laws and regulations that are relevant to insurers come from the European Union. Read more about the activities the Association undertakes in Europe.