German insurers to possibly face highest claims from natural catastrophes since 2013
Germany’s insurance industry might end up facing the highest claims from storms, floods, heavy rains, and hail since the year 2013, the head of industry association GDV said on Thursday.
He went on to say that early estimates of the damage due to being caused by rains and floods should be available next week. These natural disasters have left at least 19 people dead in Germany.
In 2013, property and casualty, including auto insurers, had their records showing a 9.3 billion euros ($11.0 billion) worth in claims from natural catastrophes that occurred in Germany. The second most expensive year since then has been the year 2017, recording a little over 3 billion euros of claims.
