The floods in July caused billions in damage.
(Photo: dpa)
Berlin After more than two months since the flood disaster in western and southern Germany, the insurance companies have already paid out payments for damage to many of those affected.
“We have already paid out more than a fifth of the damage amount, around 1.5 billion euros. Around one billion euros went to private households and around half a billion euros to businesspeople, including many small and medium-sized companies, ”said Jörg Asmussen, General Manager of the German Insurance Association (GDV), in advance of the German editorial network.
Asmussen added that the total amount of insured damage would be around seven billion euros. There are 250,000 individual cases of damage, of which 50,000 were destroyed cars. According to the GVD managing director, insurance companies can handle damaging events such as floods well because they are reinsured and the insurance industry has a large capital buffer.
More: The new federal government should include such a compulsory insurance in the coalition agreement. Experts support the demand of the consumer advice center Saxony.
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