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GDV ups German flood loss estimate to EUR4.5bn-EUR5.5bn

Stuttgart, Germany. 28th June, 2021. Drivers try to avoid the floods with their cars on Konrad-Adenauer-StraBe. A strong thunderstorm has swept across large parts of Baden-Wurttemberg, causing major damage. Credit: Andreas Rosar/dpa/Alamy Live News

The German insurance association Gesamtverband der Deutschen Versicherungswirtschaft (GDV) has increased its estimate for losses arising from this month’s floods from EUR4bn-EUR5bn ($4.7bn-$5.9bn) to EUR4.5bn-EUR5.5bn.

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