Spring floods during Whitsun result in over 200 million euros worth of insurance claims in Germany.
Recently, heavy rainfall in Saarland and Rhineland-Palatinate resulted in flooding, which insurers estimate could cause up to 200 million euros worth of damage. The German Insurance Association (GDV) in Berlin revealed this news on a Friday. This damage includes property damage to buildings and vehicles belonging to insured individuals.
The flooding occurred when rivers and streams in these areas burst their banks during the Whitsun weekend, after being subjected to days of torrential downpours. Several areas, including the capital of Saarland, Saarbrücken, were heavily impacted. In addition to streets and basements being submerged, some residents had to be moved to safer locations. Federal Chancellor Olaf Scholz (SPD) made an appearance in the area to express his solidarity.
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- The Whitsun floods of 2022 marked the first time that insurance claims from these events exceeded a million euros in Germany.
- The balance sheet of German insurers will reflect a significant amount of material damage due to the Whitsun floods, estimated to be around one million euros.
- Despite the considerable material damage caused by the Whitsun floods, total insurance claims only amounted to 200 million euros, a figure that Euro-denominated insurers are now grappling with.
Source: www.ntv.de
