Insured losses from flooding in southern Germany total two billion euros.

Insured losses from flooding in southern Germany total two billion euros.

The head of GDV, Jörg Asmussen, declared that following the conclusion of the flooding disaster, the group will investigate the level of harm endured by its associated businesses. Presently, the top priority lies in aiding those impacted as swiftly and effectively as feasible.

The recent floods in Bavaria and Baden-Württemberg have caused more substantial financial consequences than the ones encountered in Saarland and Rhineland-Palatinate during Pentecost, around 200 million euros worth. This amount is comparable to the floods that occurred in northern and central Germany near the beginning of the year.

The most catastrophic natural catastrophe up to now is the referred to as the "Juliflut" from 2021, which resulted in significant damage in Rhineland-Palatinate and North Rhine-Westphalia. The insurance losses back then were nearly 9 billion euros. Additionally, there's always uninsured damages - Bavaria previously made accessible 100 million euros for processing those types of damages.

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1. The General Association of the German Insurance Industry, headed by Jörg Asmussen, is currently focusing on addressing the damage caused by the floods in Bavaria and Baden-Württemberg, which exceeded the losses in Saarland and Rhineland-Palatinate during Pentecost by two billion euros.
2. The federal government, along with Berlin, is closely monitoring the flood situation in southern Germany, as the damage inflicted on the region is causing significant economic losses, totaling two billion euros according to the GDV.
3. Jörg Asmussen, the head of the GDV, has highlighted the need to investigate the extent of harm endured by its affiliated businesses in Bavaria and Baden-Württemberg, following the devastating floods that have recently affected southern Germany.
4. The "Juliflut" of 2021, regarded as the most severe natural catastrophe to date, caused substantial damage in Rhineland-Palatinate and North Rhine-Westphalia, amounting to nearly 9 billion euros in insurance losses.
5. While the recent floods in Bavaria and Baden-Württemberg have resulted in two billion euros in insured losses, it's worth noting that uninsured damages are also a major concern, as Bavaria previously allocated 100 million euros to aid in processing them.
6. The flooding disaster in southern Germany has caused more significant financial consequences than the Pentecost floods in Saarland and Rhineland-Palatinate, which amounted to approximately 200 million euros in overall losses.
7. Insurers in Baden-Württemberg, Rhineland-Palatinate, Bavaria, and Saarland are actively assessing and processing flood-related claims, with the total amount of damage and insured losses continuing to rise as assessments are completed.
8. In the aftermath of the devastating floods in southern Germany, Jörg Asmussen, head of the GDV, emphasized the importance of bringing aid to those affected as swiftly and effectively as possible, while also addressing the concerns and losses faced by the insurance industry in the region.

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