Most of the German insurers were not unexpectedly hit by Bernd.
The modeling of your risks is professional.
They exchange information about the correct data and its interpretation with highly professional international risk modelers.
You work with a large number of existing data that allow natural hazards from past decades to be traced.
Reinsurers are interested in precision here and provide their customers, the primary insurers, with useful information. However, there is uncertainty about climate change. It is no longer so easy to extrapolate data from the past. New dynamics arise. The Ahr region experienced this painfully this year. Consumers and homeowners will have to adapt to changes in these natural hazards.
Heavy rain events are increasing because clouds stay in one place longer than they used to.
The reverse event is the drought, complained about two summers in a row.
Insurers are willing to underwrite even more of these risks.
But they can pay for that with higher premiums.
It is clear that when the return period of extreme loss events decreases, households will have to pay for the higher costs.
This is an argument that deserves more attention during the climate negotiations and in complaints about the costs of transformation.