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Insured Losses from July Floods in Germany Could Approach $6B: AIR Worldwide

Jul 28 2021 // AIR Worldwide, the Boston-based catastrophe modeling firm, estimates insured losses in Germany from July flooding could approach €5 billion ($6 billion). Low pressure system “Bernd” parked itself over central...

Germany’s Floods Will See ‘Sizable’ Protection Gap. Could Insurance Demand Increase?

Jul 22 2021 // With an insured price tag of €4 billion to €5 billion (US$4.7 billion to $5.9 billion), economic losses from Germany’s recent floods are likely to be significantly higher, which highlights a sizable insurance...

German Floods Will Be Expensive but Unlikely to Burn Through Insurers’ Earnings: Fitch

Jul 20 2021 // The recent severe floods in Germany could add up to 5 percentage points to German non-life insurers’ net combined ratios (net claims and expenses to net premiums), according to Fitch Ratings. The insured losses are...

Germany Reels from Flood ‘Catastrophe’; Insurers Expect Costly Claims for 2021

Jul 16 2021 // Chancellor Angela Merkel pledged swift help backed by “all the power of the state” for people affected by devastating flooding in western Germany, where at least 42 people have died and dozens are...

German Cyber-Security Watchdog Confirms Country’s First ‘Cyber-Catastrophe’

Jul 12 2021 // A district council in eastern Germany has declared a disaster after its computer systems were paralyzed by a hacker attack in what the federal cyber-security watchdog confirmed was the country’s first-ever...

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