A yr after floods in Germany 1 / 4 of insurance coverage claims nonetheless open

(Reuters) — One yr after devastating floods in two western states in Germany, 1 / 4 of the insurance coverage claims are nonetheless open, and 40% of the entire damages of €8.5 billion ($8.7 billion) haven’t but been paid out, insurers mentioned Wednesday.

“For the claims settlement, we draw a constructive stability total, however now the settlement depends upon the tempo of reconstruction,” mentioned Jörg Asmussen, CEO of the German Insurance coverage Affiliation.

Within the instances which might be nonetheless open, policyholders had in lots of instances already obtained compensation for giant components of the injury, he mentioned.

Round 170 folks misplaced their lives in Germany within the floods that adopted extreme storms in July 2021.

Insurers recorded a complete of 213,000 claims, together with 40,000 broken automobiles and different automobiles, 91,000 broken residential buildings and 28,000 corporations that reported property injury and enterprise interruptions.

 

 

http://www.businessinsurance.com/article/20220706/NEWS06/912350948/A-year-after-floods-in-Germany-a-quarter-of-insurance-claims-still-open

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