Berlin:
The harm brought on by devastating floods in Germany last week is most likely to price the insurance coverage market up to 5 billion euros ($5.9 billion), the GDV insurance coverage market association stated on Wednesday.
“We are currently expecting insured losses of four to five billion euros,” Joerg Asmussen, chief executive of the GDV, stated in a statement, calling the disaster “one of the most devastating storms in recent history”.
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