German insurers are expecting insured losses of around two billion euros following the floods in Bavaria and Baden-Württemberg, said GDV Managing Director Jorg Asmussen, Report informs via dpa.
This initial forecast is still provisional, as the German Insurance Association announced in Berlin on Friday. "Because the floods on the Danube in particular have not yet subsided, this estimate is still subject to a certain degree of uncertainty," Asmussen said.
After the end of the floods, GDV therefore intends to survey its member companies again to ascertain the status of the damage.
"Our top priority now is to help those affected quickly and efficiently," said Asmussen, emphasizing the insurers' desire to quickly clarify and settle the flood damage. "The insurers have special response plans for such cases."
According to this initial estimate, this year's floods could end somewhat more mildly than the last two major flood disasters in Germany. According to GDV figures, the July flood in 2021 caused insured losses of just under nine billion euros, compared to 2.65 billion euros for the June flood in 2013.