The reported damage to insurers following the storm that hit Latvia last weekend will be quite significant and could potentially reach the scale of the July 2024 storm. This forecast was provided to the LETA agency by the Latvian Insurers Association (LAA). According to the association, after the storm on July 28 and 29, 2024, insurance companies received about **9,600 claims for compensation totaling 25 million euros**. The LAA notes that as a result of the elements that raged last weekend, real estate and vehicles were the most affected. Damage has been recorded in almost all regions of Latvia — in the central part of the country, Zemgale, Latgale, as well as in Vidzeme and Northern Kurzeme. The consequences were particularly severe in the central and eastern regions of the country. Claims for insurance compensation have already begun to arrive at insurers, and their number continues to increase as residents assess the damage caused by the storm. The association emphasizes that it is still premature to make accurate calculations, as the claims process has only just begun. However, it is already clear that the losses will be quite significant and could potentially be comparable to the consequences of the 2024 storm. One positive aspect noted by the LAA is the situation in agriculture. By the time of the current storm, most of the grain had already been harvested, so losses in this sector may be less. As reported earlier, in 2024 the LAA informed that by October 2, insurers had received **9,578 claims** for compensation for damage caused by the storm on July 28 and 29, totaling **23.7 million euros**. At that time, the association noted that this was the largest volume of insurance compensation in Latvia's history for damage caused by a single natural disaster. Last weekend, Latvia once again faced a massive natural disaster. On Saturday, August 22, and the following night, the country was hit by the strongest summer storm in decades. In some places, wind speeds exceeded 30 meters per second. The thunderstorm and strong winds caused extensive damage to distribution and transmission power lines. Initially, about **277,000 customers** across Latvia were left without electricity. By Monday morning, power outages still affected approximately **87,000 customers**. The final financial tally of the current natural disaster will be known later when residents and businesses fully assess the damage and submit claims to insurers. However, initial data already suggest that the storm may approach the insured losses of the record natural disaster of 2024, which was estimated at around 25 million euros.
