Inundation - Wüst advocates for mandatory coverage against natural disasters.
The North Rhine-Westphalia (NRW) Minister President, Hendrik Wüst (CDU), has urged the Chancellor to implement a mandatory insurance scheme for natural disasters. Speaking to the German Press Agency on Monday, he commented, "Germany is in a continuous downpour, but the Chancellor is not holding up an umbrella. I expect that Olaf Scholz will now honor his word and introduce a compulsory insurance for natural disasters."
The recent floods in southern Germany have highlighted the need for adapting to frequent extreme weather events in Germany. Wüst believes that such a financial safeguard would be appropriate. "Olaf Scholz has publicly expressed his support for this measure, both as Finance Minister and Chancellor," he continued. "It's not just about political fulfillment, it's about leadership competence. The question is whether Scholz can stand by his word when dealing with flood hazards. The states are eager to discuss this further – and we're counting on the federal government to take charge."
On June 20, state leaders plan to engage in a discussion with the Chancellor regarding the possible implementation of this compulsory insurance. Wüst asserted, "A mandatory insurance for natural disasters would not only give many individuals a sense of security and protect them from potential financial ruin. It would also be in the interest of the taxpayer, who, as it stands, contends with billions in damages again and again, due to the existing laws."
However, the property owners' association, Haus & Grund, expressed opposition to such a policy. Association President Kai Warnecke declared in a statement, "A compulsory insurance does not prevent any damage events." He instead advocated for priority measures against heavy rain and flooding. For instance, he mentioned the implementation of building bans in high-risk areas and the initiation of a publicly-accessible risk analysis. Despite this, Warnecke perceived a natural disaster insurance as beneficial, as it provides protection against financial catastrophes.
