BOSTON, Nov. 08, 2023 (GLOBE NEWSWIRE) -- The extreme event solutions business
unit of Verisk (Nasdaq: VRSK), a leading global data analytics and technology
provider, estimates industry insured losses due to wind from Winter Storm Ciarán
(also named Emir by the Free University of Berlin) will range between EUR 800
million and EUR 1.3 billion, the majority of which are expected in France.
Meteorological Background of Ciaran
Ciarán began as a shallow low that developed over the Ohio Valley, U.S., on
Sunday 29 October, associated with very strong temperature gradients in the
region. On Wednesday 1 November, the storm explosively deepened by 34 mb in 24
hours over warm sea surface temperatures, classifying Ciarán as a bomb cyclone.
The low-pressure center of Ciarán arrived in south-western parts of England
overnight into Thursday 2 November at 952 mb, the lowest pressure ever recorded
in England and Wales in November. However, high-exposure regions in the area
were spared the worst impacts from the storm. Rainfall totals in north-western
Europe were less remarkable, but following a period of sustained wet weather,
there was some further flooding in parts of southern England.
The long trailing cold front from Ciarán spawned another shallow low over the
Alps overnight Thursday into Friday, causing significant flooding in southern
parts of Europe, most notably the Tuscany region of Italy, far away from the
center of the storm. This flooding, along with the impacts in France and
elsewhere from windstorm Domingos over the past weekend, may contribute losses
to this event, which, depending on hours clauses, could be considered a single
loss occurrence along with Ciarán's wind impacts.
Hazard and Damage Observations
Ciarán's impacts were most pronounced in northwest France and the Channel
Islands. In France, the worst damage was in the northwest, in Brest. Similar
impacts were observed in the Channel Islands. Jersey in particular was very hard
hit, with some of the more extreme roof and structural damage there likely
caused by a strong tornado that was spawned by the storm. Jersey also saw golf
ball-sized hail which contributed to both roof and automobile damage. The large
amount of tree-related damage from this storm was exacerbated by the fact that
most trees in the region still have leaves on them and the ground was quite
saturated, making it more likely for trees to become uprooted or fall over.
Verisk's modeled insured loss estimates include insured physical damage from
wind to property (residential, commercial, industrial, agricultural, and motor,
including structures and their contents, as well as business interruption and
additional living expenses (for the UK only).
Verisk's modeled insured loss estimates do not include:

  * Losses due to coastal or inland flooding
  * Losses due to tornadoes or hail
  * Additional living expenses (ALE) for residential claims for all modeled
    countries, except the UK
  * Losses to uninsured properties
  * Losses to infrastructure
  * Demand surge

* Losses caused by Storm Domingos, which affected France and Spain starting on

    Saturday 4
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About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology
partner to the global insurance industry. It empowers clients to strengthen
operating efficiency, improve underwriting and claims outcomes, combat fraud and
make informed decisions about global risks, including climate change, extreme
events, ESG and political issues. Through advanced data analytics, software,
scientific research and deep industry knowledge, Verisk helps build global
resilience for individuals, communities and businesses. With teams across more
than 20 countries, Verisk consistently earns certification by Great Place to
Work (https://www.greatplacetowork.com/certified-company/1288593) and fosters
an inclusive culture (https://www.verisk.com/about/inclusion-diversity-
belonging/) where all team members feel they belong. For more, visit Verisk.com
(https://www.verisk.com/) and the Verisk Newsroom
(https://www.verisk.com/newsroom/).
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