Forest fires in Los Angeles: Billion damage moves waves to Austria!

Forest fires in Los Angeles: Billion damage moves waves to Austria!

Los Angeles, USA - The devastating forest fires in Los Angeles have made headlines not only in the USA, but also worldwide. According to information from orf.at , at least 24 people were killed and over 12,000 buildings were destroyed, while the damage costs are estimated to do billions of dollars. This catastrophe is one of the most expensive in the history of the United States.

However, the effects are not limited to the American territory. Thomas Naderer, the state chairman of the insurance agent in the Upper Austria Chamber of Commerce, warned of possible increases in the premiums for house and company insurance in Austria. The insurance industry worldwide is heavily involved in events because reinsurance is sharing risks among themselves. Naderer said: "The increasing number of natural disasters not only affects the reinsurers, but also the local insurance providers." He will see small but surely increasing premiums in the coming years, unless there are other large -scale disasters.

The role of climate change

In addition, a current report by Deutsche-wirtschafts-nachrichten.de Climate change is attributed. The reinsurer Munich Re emphasizes that these developments are increasingly triggered by nature and thus increasing the financial risks for insurers worldwide.