South suffers from two billion euros' worth of damage, insurers estimate.

Overwhelmingly Heavy Rain Leads to Widespread Flooding - South suffers from two billion euros' worth of damage, insurers estimate.

Insurance companies in Germany expect the costs of the recent floods in Bavaria and Baden-Württemberg to be around two billion euros. However, this is just a provisional estimate as the German Insurance Association (GDV) admitted in Berlin on Friday. Jörg Asmussen, GDV's Managing Director, said there's a degree of uncertainty surrounding this amount since the floodwaters in the Danube haven't receded yet. The GDV will carry out another inspection with its member companies once the flood is over.

Asmussen stressed the importance of assisting the affected individuals as swiftly and effectively as possible. Insurance companies have specific plans for handling such crises, he added.

This recent flooding in southern Germany was the third and most destructive within a short period, with not only the Danube but also many of its tributaries undergoing a surge. GDV's estimate puts the cost of the Christmas flood in northern and central Germany at roughly 200 million euros. Likewise, insurers faced a two-hundred-million-euro bill due to the Saarland and Rhineland-Palatinate flood during Pentecost.

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1. Jörg Asmussen, the Managing Director of GDV, expressed concern about the uncertainty surrounding the estimated two billion euros in damages caused by the floods in Bavaria and Baden-Württemberg, mainly due to the ongoing floodwaters in the Danube.
2. The recent storms in southern Germany have resulted in widespread flooding, causing significant damage worth around two billion euros according to insurance estimates.
3. As the weather in Bavaria and Baden-Württemberg continues to be affected by heavy rain and storms, the German Insurance Association (GDV) has highlighted the need for emergency measures and swift assistance to those affected by the floods.
4. Following the widespread flooding in Bavaria and Baden-Württemberg, the German insurance industry is expecting to face several catastrophic billions in damages, with the most heavily affected states being Bavaria and Baden-Württemberg, totaling around two billion euros.
5. In a press conference in Berlin, Jörg Asmussen, the head of GDV, expressed that insurers are ready to face the post-storm emergencies in Bavaria and Baden-Württemberg, with an estimated cost of two billion euros towards recovery and damages.
6. With insurers estimating the damage caused by the recent floods in Bavaria and Baden-Württemberg to be around two billion euros, it's crucial for the affected areas to work closely with insurance companies to ensure a swift and effective response to the emergencies brought about by the storm.

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