German Floods Cause Up To 5 Billion Euros In Insured Losses: Association

German Floods Cause Up To 5 Billion Euros In Insured Losses: Association

German Floods Cause Up To 5 Billion Euros In Insured Losses: Association

(*5*)Germany Floods: The flooding was Germany’s worst pure catastrophe in additional than half a century.

Berlin:

The injury brought on by devastating floods in Germany final week is more likely to price the insurance coverage trade as much as 5 billion euros ($5.9 billion), the GDV insurance coverage trade affiliation stated on Wednesday.

“We are at present anticipating insured losses of 4 to 5 billion euros,” Joerg Asmussen, chief govt of the GDV, stated in an announcement, calling the catastrophe “one of the crucial devastating storms in current historical past”.

(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)

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