Storm losses in Europe are projected to rise amid evidence climate change is causing more severe events, according to Munich Re.

“Rising moisture content in the lower atmosphere is a key driver of stronger thunderstorms – a physical consequence of the long-term warming of the world’s oceans,” Head of the reinsurer’s Geo Risks Research Unit Peter Hoeppe said.

“Recent studies have also shown the intensity of thunderstorms and hailstorms has increased in many regions.”

Europe has experienced losses of more than €1 billion ($1.5 billion) from severe thunderstorms including hail and flash floods in the past few years.

Hail in Germany in July 2013 remains Europe’s costliest storm event since 1980, with estimated overall losses of €4.6 billion ($6.9 billion) based on current values.

Prevention measures, including construction of more resilient buildings, are central to minimising losses, according to Munich Re.

“It is clear the use of more expensive construction materials and rising repair costs are a major factor in the increasing losses in Europe from severe thunderstorms, and in particular from hailstorms and storm gusts,” its Topics Geo report says.

“For risk carriers, this means ever greater importance must be attached to efforts to ensure construction materials are more resistant to hailstones, and to promote the use of hail nets and loss prevention efforts across the board.

“This is because the volume of destructible assets will also increase… along with the potential changes in the hazard.”