A year after floods in Germany a quarter of insurance claims still open

BERLIN, July 6 (Reuters) – 1 year following devastating floods in two western states in Germany, a quarter of the insurance policies claims are even now open up, and 40% of the whole damages of 8.5 billion euros ($8.7 billion) has not nevertheless been compensated out, insurers claimed on Wednesday.

“For the promises settlement, we attract a optimistic equilibrium total, but now the settlement is dependent on the speed of reconstruction,” stated Jörg Asmussen, main executive of the German Insurance plan Association (GDV).

In the conditions that are however open up, policyholders experienced in quite a few circumstances presently acquired compensation for huge sections of the damage, he mentioned.

About 170 folks dropped their life in Germany in the floods that followed critical storms in July 2021.

Insurers recorded a complete of 213,000 promises, like 40,000 weakened vehicles and other cars, 91,000 destroyed residential buildings and 28,000 firms that noted assets damage and business enterprise interruptions.

Additional than 2,000 solitary-loved ones properties with insured losses of far more than 100,000 euros had and partly continue to have to be repaired.

($1 = .9782 euros)

Reporting by Klaus Lauer, producing by Kirsti Knolle, enhancing by Louise Heavens

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