Flood insurance claims will reach $4 billion in Germany

June 14, 2013June 12, 2013 H. Cutner

The waters of the Danube have now swelled outward to the point that they are headed for Serbia. The latest predictions have suggested that the damage that has occurred due to the rising floodwaters in Germany are likely to bring about flood insurance claims that will reach €3 billion (approximately $4 billion). This, according to a credit rating agency’s forecasts regarding the claims made from the water damage. Though the Elbe river’s levels appear to be stabilizing in the north of Germany, further to the south, the flood insurance issues…

Disaster in Germany draws attention to flood insurance

June 13, 2013June 12, 2013 S.Vagus

Flood insurance enters limelight in Germany Over the past week, Germany has fallen victim to a catastrophic flood that has caused a significant amount of damage in some parts of the country. The flood began at the Danube River, which is the second largest river in Europe, and several other rivers quickly began to overflow. Combined, these rivers contributed to one of the worst flood disasters in Germany’s history and have put a great deal of strain on the flood insurance sector within the country. German floods expected to have…