Hailstorms, heavy rains and tornadoes in parts of France, Belgium, the Netherlands, Switzerland, Germany, the Czech Republic and elsewhere in Europe (between June 21 and July 1) could increase the insured loss estimate by over USD 2.5 billion.
While it is still difficult to estimate the ultimate COVID-19 loss estimate, the publicly-available reported total is USD 43 billion. A significant amount of this total (44 percent) remains incurred-but-not-reported (IBNR). Property business interruption (BI) losses have been slow to develop and in many countries coverage determinations are ongoing. While the percentage of the total incurred COVID19 losses attributable to BI is beginning to increase, these are still largely estimates, un-paid by insurers and un-billed to reinsurers.