Up to 50,000 cars were damaged by the record rainfall and subsequent flooding in the UAE last month that left vehicles across the country submerged, according to a new report.
The report from reinsurance broker Guy Carpenter said the estimated preliminary insured loss for vehicles damaged in the flood is likely to exceed $150 million, and could reach as high as $250 million for the UAE.
It said claims are still developing, and this estimated number is “subject to further change.”
The unprecedented storm in April caused widespread flooding, submerged streets, felled trees, shuttered schools, saw flights diverted away from DXB (Dubai), the world’s busiest airport, and disrupted daily life across the country.
Deadly floods were also reported in neighboring Oman and Bahrain.
The Guy Carpenter report estimates that flooding across the UAE, Bahrain, and Oman resulted in insured losses of up to $850 million. Preliminary estimates point at insured property losses that could exceed $650 million, with Dubai experiencing the most severe impact.
Last month, a global weather body had warned that the “exceptionally heavy rainfall” that hit the GCC is an ever-increasing threat due to a warming climate.
The World Weather Attribution (WWA) report – to which researchers in Saudi Arabia contributed – stressed that cloud seeding had no role in the storms and consequent floods that led to at least 20 deaths in Oman and four in the UAE, according to latest tolls.
The study found that global warming “most likely” exacerbated the intense rains. Extreme rainfall in El Nino years has become 10-40 percent heavier in the affected region.
