Rain, storm, flooding in Styria – in the “Krone” interview, hail insurer Mario Winkler describes the extent of the damage and whether premiums are now rising.
“crown”:Fields are flooded, entire crops have been destroyed – how much damage has been done in Styria after the current storms?
mario winkler: It currently looks like this: within just 48 hours, the storms caused damage of four million euros. And it should be remembered that this was not the first year – we already had heavy rains and large-scale flooding around Pentecost. With two million euros in damage.
The late frost again had enormous consequences this year.
Absolutely: Across Austria, we are talking about EUR 35 million, two thirds of which went to Styria. All in all, damage in this state already stands at 31 million this year – and the typical storm months of July and August are yet to come.
This used to be no problem at all, but now many farmers are turning to insurance. What is the current amount of the insurance?
Late frosts haven’t been a problem for the last 60 years – and in 2016 it struck devastatingly, causing damage worth €120 million. The next year again. That was the reason why the rate of the insured soared. 85 percent of Styrian farmers are now insured against hail, 70 percent against other extreme weather conditions such as storms, drought and frost. This protection is now part of the business calculation. In fact, it can no longer do without it, especially now that the weather conditions are only getting worse instead of improving.
But it is also said time and time again that the premiums would be very high. What numbers are we talking about here?
You can’t give a general answer to that. The amount of insurance is individual, depending on the crops; for maize it is slightly lower than for high-risk crops such as fruit or wine. It also depends on the municipality how high the statistical risk of heavy rainfall or hail is. So many factors – but there is also a bonus-malus system with hail insurance.
Is it not becoming increasingly difficult for insurance companies to pay out these high claims? Are premium increases to be feared?
We would like to keep the premiums constant; It is also too early to discuss this in the annual cycle, as the storm season has yet to come. You will see that at the end of the year. No increase is currently planned.
It is often praised that hail insurance can be collected and paid out very quickly.
That’s our goal. Those affected must be compensated quickly.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
