Kenyan farmers lost $350 million to flood in April

Bayer

Kenyan farmers may have lost about $350 million to flood in April alone.

According to the latest data contained in the monthly Global Catastrophe Recap report by Aon Benfield, a global risk management consultant, persistent flooding in Kenya killed at least 78 people, and caused extensive water damage to homes, cropland, and infrastructure.

The report also showed that regional governments indicated that total economic damage would near KES35 billion (USD350 million), including KES20 billion (USD200 million) alone to infrastructure.

The problem seems to be pervasive in the Eastern region of Africa as further flooding and casualties were noted across Somalia, Tanzania, Ethiopia, and Rwanda, damaging more than 10,000 homes.

Michal Lorinc, an analyst within Impact Forecasting’s Catastrophe Insight team, said: “As the peak of the severe weather season approaches in the United States, it is worth highlighting the impact of the thunderstorm peril in Europe. As in the U.S., hail has been particularly damaging to European residential and commercial property, as well as vehicles, with several historical events prompting insurance payouts in excess of a billion euros.

He added that “Given this risk, Impact Forecasting will soon release a hail model that includes coverage for several European countries, to help our clients better prepare for the potential events.”