Enhanced Storm Destruction in Thuringia 2024: Report Shows Increased Damages Compared to Previous Years

Insurance Claims Soar Amidst Top Weather Mishaps in Thuringia '24

Here's the deal:

Thunderstorms, hail, and flooding have gone wild! Insured damages stemming from natural disasters nearly doubled to a whopping 106 million euros in the state of Thuringia in 2024, according to data from the German Insurance Association (GDV) sourced by the German Press Agency. In 2023, it was a mere 54 million euros.

Property insurance, which covers buildings, homes, and commercial property, accounted for 63 million euros in insured damages in 2024. Over a fifth of this was due to heavy rain and flooding, while the rest was due to storm and hail damage. Car insurers, meanwhile, paid 43 million euros for vehicle-related damages from natural hazards.

To put things into perspective, natural disasters caused a hell of a lot of destruction nationwide last year, adding up to an astonishing 5.7 billion euros in damages for property and car insurers combined. This figure is roughly the same as in 2023, although over half of it affected the two southern states of Bavaria and Baden-Württemberg, where severe flooding occurred. The total damages are estimated to be significantly higher, as not everything is covered by insurance.

Unsurprisingly, the GDV CEO, Jörg Asmussen, called for climate change adaptation to be a top priority for the new government. He emphasized that while mandatory insurance helps, "What we need is a comprehensive natural hazard concept that includes both insurance solutions and preventive measures." This, he believes, would secure long-term safety not only for people but for municipal infrastructure as well, as climate change continues to rear its ugly head.

Things to Know:

Thuringia
Insurance claims
Extreme weather incidents
Natural hazards
Flooding
Mandatory insurance
German Insurance Association
Storm
Climate change
Thuringia-Specific Data: Published, region-specific annual insurance balance figures for Thuringia regarding weather damage due to natural hazards are not available in the cited sources. However, general trends can be inferred based on broader German patterns and the role of the German Insurance Association.

Trends in Insurance Claims for Weather Damage:

Rising Climate Risks: As climate change intensifies, Thuringia, like many regions, faces increased exposure to drought, heatwaves, heavy precipitation, severe wind, and localized flooding - all of which contribute to higher insurance claims and premiums over time.
Insurer Responses: To account for heightened risks, insurers are factoring exposure to hazards such as heatwaves, flooding, and wind into property valuations and insurance terms. Properties with higher exposure may face increased premiums or limited coverage options.

The German Insurance Association (GDV):

Data Reporting: The GDV collects and reports annual data on insurance claims and payouts related to natural disasters across Germany, including storms, floods, hail, and other weather-related events.
Annual Loss Statistics: The GDV releases annual reports summarizing insured losses from natural disasters, widely referenced in policy discussions, academic research, and by insurance companies for risk assessment purposes.
Advocacy and Risk Communication: The GDV works tirelessly to increase awareness about climate risks and advocates for better risk management and adaptation strategies. They also provide guidance for insurers and the public on how to prepare for and mitigate financial impacts of severe weather events.
Note: The information provided here is not exhaustive but intended to offer a clearer understanding of the situation, focusing on the key points.

The German Insurance Association (GDV) highlighted the urgent need for climate change adaptation in response to the significant rise in insurance claims due to extreme weather incidents in Thuringia, such as thunderstorms, hail, and flooding, which increased damages from natural hazards to a record-breaking 106 million euros in 2024.
To address the rising risks posed by climate change, the GDV called for the development of a comprehensive natural hazard concept encompassing both insurance solutions and preventive measures, aiming to secure long-term safety for both people and municipal infrastructure in Thuringia.
Vocational training in environmental science, weather forecasting, and climate-change adaptation could play a crucial role in implementing the natural hazard concept proposed by the GDV, to adequately prepare communities for the challenges posed by an increasingly volatile climate.